At Wednesday's spending review, Chancellor George Osborne somehow managed to announce that his plan for deficit reduction is on track, escape embarrassment over a major u-turn on tax credits, and avoid cuts as deep as expected. But, in a move that almost no-one has mentioned, Osborne has come up with a sneaky way to cut the budgets of government departments through the back-door — and in the process raise extra cash to make his budget work.

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