"Chancellor George Osborne has warned the UK has to "act now rather than pay later" ahead of next week's Budget, with further spending cuts planned.
He said the cuts would be "equivalent to 50p in every £100" of public spending by 2020, which was "not a huge amount in the scheme of things"."
Source: Budget 2016: George Osborne warns of cuts of 50p per £100 - BBC News
So, deficit runs at 10% of budget income, and he decides to cut spending by 0.5% over next 4 years!!!
He said the cuts would be "equivalent to 50p in every £100" of public spending by 2020, which was "not a huge amount in the scheme of things"."
Source: Budget 2016: George Osborne warns of cuts of 50p per £100 - BBC News
So, deficit runs at 10% of budget income, and he decides to cut spending by 0.5% over next 4 years!!!
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