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| Government outlines spending cut plans |
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| Latest Recruitment News - HR and Recruitment Legislation News |
| Written by DirectNews Feed |
| Monday, 24 May 2010 00:00 |
 The coalition government has today (May 24th) unveiled how it plans to help reduce the country's estimated £156 billion budget deficit over the next year.In line with the Conservatives' pre-election manifesto pledge, chancellor George Osborne and treasury minister David Laws have outlined proposals to cut public sector expenditure by more than £6 billion within the next 12 months. The Department for Business, Innovation and Skills faces one of the largest reductions to any individual arm of the government, as it must cut its expenditure by £836 million before April 2011. Also, the Department for Transport will shed £683 million in costs. Meanwhile, under what Mr Laws labelled the end of the "years of public sector plenty", the Department for work and Pensions is to have £535 million taken from its budget and a further £120 million will be retained by the government through stopping recruitment in the civil service. Chancellor Osborne said: "This is just the first step towards creating better public services, a stronger economy and a fairer society." Posted by Daniel Frost 
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