Spending review: Osborne outlines £11.5bn in cuts

Suzie Neuwirth

CHANCELLOR George Osborne unveiled his plans to make £11.5bn in cuts for 2015/16 in today’s spending review.

The health service, schools and foreign aid will continue to be exempt from budget cuts, the chancellor said.

The Department for Environment, Food and Rural Affairs took one of the biggest hits, losing ten per cent of its budget, while the Department of Energy and Climate Change was cut by eight per cent.

Osborne also announced that he would not include the state pension in the newly introduced welfare cap.

Click here to read the City A.M. blog for updates on today’s spending review.