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Wednesday 20 October 2010

Key Points From Today's Spending Cuts

Chancellor George Osborne has unveiled the biggest UK spending cuts since World War II, with welfare, councils and police budgets all hit.

- £81bn cut from public spending over four years

- 19% average departmental cuts - less than the 25% expected

- £7bn extra welfare cuts, including changes to incapacity, housing benefit and tax credits

- £3.5bn increase

- Rise in state pension age brought forward

- 7% cut for local councils from April next year

- Permanent bank levy

- Rail fares to rise 3% above inflation from 2012

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