Areas so far protected from austerity to be targeted after 2015George Osborne will pledge to introduce even deeper spending cuts after the next general election by imposing a new cap on parts of the welfare budget and other areas which have so far been immune from the coalition's austerity plans.As the chancellor served notice that Britain faces a longer-than-expected recovery, after the Office for Budget Responsibility halved its growth forecast for this year, a senior Treasury source said Osborne would promise to target so called "annually managed expenditure" (AME) in the next parliament.This accounts for about 50% of government spending – covering many areas of welfare, debt interest and EU contributions – and has largely not been targeted during the current round of spending cuts.
Similar Stories to Budget 2013: Osborne To Promise Even Deeper Spending Cuts After Election on Bing News
Jill Treanor, Nicholas Watt, The Guardian
Wed, 03/20/2013 - 10:06am
Topics: office budget responsibility eu del whitehall offer introduce scrap september june the uk imf labour liberal democrat ed miliband britain robert chote london evening standard budget 2013tax osbornebudgetjill treanornicholas wattguardian.co guardian news media limited terms conditions more feeds osborne it ame treasury twitter obr december chote gdp promise election deeper spending cuts chancellor welfare government growth forecast source year current cap target duty fiscal structural halved increase expected worth families debt running subject areas controls breach confirmed set pledge falling remain earlier announcement cover page contributions economic front called beer time £120bn due meet mandate surplus national allowance targeted employment share employers public downgraded means years cyclically adjusted support originally
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