Chancellor George Osborne has announced the government's four-year Spending Review to Parliament, revealing some of the deepest cuts in public spending in decades.
The key announcements:
* About 490,000 public sector jobs likely to be lost
* Average 19% four-year cut in departmental budgets
* Structural deficit to be eliminated by 2015
* £7bn in additional welfare budget cuts
* Police funding cut by 4% a year
* Retirement age to rise from 65 to 66 by 2020
* NHS budget protected; £2bn extra for social care
* Schools budget to rise every year until 2015
* £30bn capital spending on transport
* Permanent bank levy
Here, department by department, are more details.
http://www.bbc.co.uk/news/uk-politics-11569160
Bye, bye London as capital of the "financial sector"
The key announcements:
* About 490,000 public sector jobs likely to be lost
* Average 19% four-year cut in departmental budgets
* Structural deficit to be eliminated by 2015
* £7bn in additional welfare budget cuts
* Police funding cut by 4% a year
* Retirement age to rise from 65 to 66 by 2020
* NHS budget protected; £2bn extra for social care
* Schools budget to rise every year until 2015
* £30bn capital spending on transport
* Permanent bank levy
Here, department by department, are more details.
http://www.bbc.co.uk/news/uk-politics-11569160
Bye, bye London as capital of the "financial sector"