UK seeks to cut spending of up to 40%
By Peter Griffiths |
July 5, 2010, Monday
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Print Edition
Print Edition
BRITAIN'S coalition government has asked many departments to plan for possible spending cuts of up to 40 percent, far more than announced in an emergency budget last month, the finance ministry said over the weekend.
With Britain trying to reduce a record budget deficit, ministers had been told to expect public spending cuts of about 25 percent in most areas.
But many ministries have now been asked to compile reports on what effect cuts of 40 percent would have on services.
A finance ministry spokesman said departments had been asked to look at a range of possible cuts and that the 40 percent level was only one option that would form the basis of negotiations in the coming months.
"These planning assumptions are not final settlements and do not commit the Treasury or departments to final settlements," the spokesman said. "These assumptions will be negotiated."
The education, health and defence ministries would be spared such unprecedented levels of spending cuts. But most other departments and ministries would have to draw up the plans, including the interior ministry, transport and work and pensions departments.
Proposals for how to cut 40 percent of spending must be finalized by the end of the month, although there is no certainty they will form part of official government budgets due to be announced in October.
Chancellor of the Exchequer George Osborne announced the harshest budget in decades last month, cutting spending and raising taxes.
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