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Cuts to public sector spending set for delay
PROPOSED public spending cuts are set to be delayed to enable the coalition government to spread the pain of the deficit reduction more evenly over the next few years.
The forthcoming spending review on 20 October is expected to outline the revised timetable for cuts, although the Treasury has insisted it will still eliminate the deficit within a parliament as David Cameron outlined yesterday in his speech.
Ahead of chancellor George Osborne’s review the government is looking at contracts and redundancy costs, according to the Financial Times. The government refused yesterday to confirm it would maintain the £23bn spending cuts in 2011-12, rising to £83bn a year cuts by 2014-15, that it has already outlined.