Chancellor Osborne spells out scale of cuts

The Chancellor George Osborne has ordered government departments to plan ways to cut up to 40% from their budgets by 2019-20 in a bid to find an additional £20bn savings in public spending. 

Announcing the annual spending review process in Parliament on 21 July, the Chancellor George Osborne launched the Treasury’s Spending Review 2015 process, in which the Conservatives will seek to deliver a budget surplus by 2019/20 by cutting annual departmental expenditure by £20bn...

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