Chancellor says he must act now to make sure we don’t pay later’,with Treasury forced to find additional £4bn savingsWeaker growth and a deterioration in the public finances will force the Treasury to make an additional £4bn of savings by the discontinuance of the current parliament, George Osborne has said.
The chancellor said the cuts amounted to an additional 50p for every £100 of public spending – which he described as not “a enormous amount in the scheme of things”.
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Source: theguardian.com