View more on these topics

Osborne wields the axe as Treasury demands £20bn savings


The Treasury has instructed Government departments to lay out plans for £20bn of savings through this parliament.

Treasury secretary Greg Hands has told departments to model how they would make savings of 25 per cent and 40 per cent in their budgets by 2020.

Hands’ demands mark a repetition of the required savings outlined by the government as part of its 2010 spending review.

In addition, Hands has asked how departments will dispose of enough public sector land for 150,000 homes by 2020, up from the space for 100,000 freed up during the last parliament.

The full spending review will be published on 25 November.

Chancellor George Osborne says: “This spending review is the next step in our plan to eliminate the deficit, run a surplus and ensure Britain lives within its means.

“We’ll invest in our priorities like the NHS and national security. Elsewhere in Government, departments will have to find significant savings through efficiencies and by devolving power, so people have a greater say over the issues that affect them and their communities. We’ll deliver more with less.”



Budget: Govt reveals where £70m of bank fines will be spent

The Government has revealed where it will spend £70m worth of bank fines over the next five years. Historically, excesses in FCA fine revenue were directed back to firms to reduce regulatory costs. But since April 2012 the fines have been passed directly to the Treasury instead. In 2014/15, FCA fines totalled £1.42bn, of which […]


AS 2014: Osborne warned on spending cuts

Chancellor George Osborne’s deficit reduction policy could result in around one million public sector job losses and take public spending to it lowest level since the 1930s, the BBC reports. Osborne announced in yesterday’s Autumn Statement that the deficit had not closed as fast as the Government had hoped, and is set to be more […]


UK faces deeper cuts to Govt spending

The UK faces deeper cuts after 2015 as the annual savings needed to meet the Government’s austerity programme are set to almost double to £48bn. Analysis by the Financial Times shows despite claims by Prime Minister David Cameron that most of the cuts to public services have been achieved, less than half the necessary reductions […]

Jane Cuthbertson

Five steps to securing good quality referrals

Most advisers know referrals are one of the most effective methods of growing their business yet many still struggle to get them, let alone good ones. In our experience, too many firms do not even have a referral strategy in place. So, where do you start? Here are five ideas to consider in order to […]

The investment clock

While Trump blazes blond in the political foreground, it’s easy to overlook the economic background to the new political dimension of 2017. Political risk will be a feature of the year: the unpredictable and untested Trump administration has already created uncertainty, which is unlikely to diminish, especially if protectionist rhetoric starts to outweigh promises of […]


News and expert analysis straight to your inbox

Sign up


There is one comment at the moment, we would love to hear your opinion too.

  1. Oh what a nice position George is in, oh to be able to introduce legislation willy nilly, and how nice it is to be able to instruct his departments to save money, to be at the top of the food chain.

    If only we could do this with the FCA !

    I started up my business to get away from, megalomaniacs telling me how to run my life and work, nincompoops telling me how to do this and how to do that, greedy vultures forcing me to work harder for less money !

    My world is ruled by an unaccountable entity who robs me blind let alone knows who I am !

    I sent back my fee invoice to them (FCA) the other day, and I dabbed some perfume on the cheque…. knowing full well what they do to me I might as well get them in the mood !!

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm