Latest Public Sector News

26.06.13

Osborne to set out spending cuts for 2015-16

Chancellor George Osborne is to announce £11.5bn of cuts to Government departments in today’s public spending review, due at 12.30pm.

The cuts will take place in 2015/16 to help reduce the deficit and Labour has announced its intention to stick to the plans.

Health, schools and foreign aid budgets will all continue to be protected, meaning larger cuts to be shared by the remaining departments. The Times has reported that thousands of civil servants will lose their annual incremental pay rises in a push to move towards performance-related pay.

Osborne said: “I'm confident we are coming out of intensive care and we can turn this country around. There's certainly a chance of a relapse if we abandon our plan.”

He will also announced long-term plans to invest in infrastructure, including roads and energy projects.

But shadow financial secretary to the Treasury Chris Leslie said: “This Spending Review is happening because David Cameron and George Osborne's economic plan has failed.

“Three years of falling living standards and a flat-lining economy has led to billions more borrowing to pay for economic failure. Far from balancing the books by 2015, as the Government promised, the chancellor is being forced to make even more cuts.”

PSE will be live-tweeting the Spending Review from 12.30 at @psenews.

Tell us what you think – have your say below, or email us directly at opinion@publicsectorexecutive.com

Image c. M Holland

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