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Osborne wields the axe as Treasury demands £20bn savings

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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.”

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  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 !!

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