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| Quangos 'facing governmental cuts' |
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| Latest Recruitment News - HR and Recruitment Legislation News |
| Written by DirectNews Feed |
| Monday, 17 May 2010 00:00 |
 Quasi-autonomous non-governmental organisations (quangos) are set to face massive cuts when the new government announces its plans to save £6 billion on public spending in 2010 next Monday (May 23rd).There are currently 790 quangos in the UK - which cost around £34 billion per year to run - and chancellor George Osborne has revealed that the new Conservative-Liberal Democrat coalition intends to make "significant reductions to the cost of quangos". Speaking at the launch of the new Independent Office of Budgetary Reform, which will be granted statutory authority in the Queen's speech and will provide assessments on the country's finances for the Treasury, Mr Osborne outlined the government's blueprint for making these massive savings. "The specific allocations of in-year savings will be announced a week today," he said. Mr Osborne added that the departments of defence and international development, as well as the NHS, are also not immune from cuts but insisted that the money saved from these sectors will be "reinvested in their front lines". Posted by Daniel Frost 
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