Thursday, 21 October 2010

No 154: The Spending Review in 2 minutes

SORRY, no time at the moment to offer detailed comments about the spending cuts (see post 151).

However, here is a list of the main measures:

  • £81bn cut from public spending over four years
  • 19% average departmental cuts - less than the 25% expected
  • £7bn extra welfare cuts, including changes to incapacity, housing benefit and tax credits
  • £1.8bn increase in public sector pension employee contributions by 2014
  • Rise in state pension age brought forward
  • 7% cut for local councils from April next year
  • Permanent bank levy
  • Rail fares to rise 3% above inflation from 2012
And a short video....

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