Stay connected:
Citywire printed articles sponsored by:
View the article online at http://citywire.co.uk/wealth-manager/article/a667053
Osborne to squeeze Budget for an extra £2.5bn in savings
Markets
by Sarah Miloudi on Mar 19, 2013 at 13:39
George Osborne has ordered ministers to find another 1% in savings each year between now and 2015.
The additional savings will pose another headache for hard pressed ministers, with the order from the UK chancellor coming just a day ahead of the next Budget.
According to reports, Osborne (pictured) wants to use the additional savings to boost the capital spending budget by £2.5 billion.
The extra cuts will not affect ring-fenced and politically sensitive areas like the National Health Service, international aid and education.
Detail is scant on how the extra £2.5 billion will be spent, but Osborne is widely expected to unveil a large infrastructure spend to help get the economy moving.
The Treasury is also thought to be keen to fund a increase in income tax allowances for lower earners.
News sponsored by:
Today's top headlines
Aberdeen Live supplement: Fundamentals point to ongoing flows and solid returns from EMD
After a record year for inflows and market-leading performance in 2012, emerging market debt has taken a large step towards the mainstream. Our recent debate covers the outlook for the asset class this year and where opportunities can be found.
On the road
Click here to find out more from the Audience Development team.
Read more...
Arigatou Japan! Is Nikkei still world's top equity hotspot?
by Emma Dunkley on May 23, 2013 at 14:09
leave a comment
Please sign in here or register here to comment. It is free to register and only takes a minute or two.