Govt departments told to find fresh 6% spending cuts

In addition to 2010 spending review

clock • 1 min read

Government departments will have to find up to an extra 6% of spending cuts by 2020 as part of the Treasury's ongoing "efficiency review".

Ahead of next week's Budget, the Treasury said new cuts were needed to achieve plans to save £3.5bn by 2020, the BBC reported. It said the NHS and core schools budgets would not be included and any savings found by councils would be spent on under-pressure social services. These cuts will come in addition to major rounds of cuts made to departments' budgets since 2010. According to the Treasury, the government would continue to spend 2% of GDP on defence, and it remains legally obliged to spend 0.7% on overseas aid.  The planned savings are due to be introduced around th...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

'Budget will be a reset for our economy' Reeves tells IMF colleagues

'Budget will be a reset for our economy' Reeves tells IMF colleagues

Autumn Budget on 30 October

Linus Uhlig
clock 24 October 2024 • 2 min read
Advisers urged not to let clients 'act too soon' ahead of Budget

Advisers urged not to let clients 'act too soon' ahead of Budget

Communication is about ‘staying calm and keeping clients focused’

Isabel Baxter
clock 22 October 2024 • 5 min read
Why the Bank of England needs to stop over-sharing

Why the Bank of England needs to stop over-sharing

'We are used to the comments of central bankers moving markets'

Laith Khalaf
clock 17 October 2024 • 4 min read