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Wednesday, 26 June 2013

The Chancellor's spending update

The Chancellor has revealed how he will cut a further 11-and-a-half-billion pounds from Government spending from 2015.


There will be a 1 percent cap on public sector pay rises, and automatic pay rises are to end for public sector works, excluding the armed forces.


A cap on welfare spending (including housing benefit, tax credits and disability living allowance but NOT pensions) will come into forces in April 2015, and will be reviewed every four years.


Pensioners living abroad will no longer be paid winter fuel allowance.


Jobseekers will need to wait for seven days before they can claim benefits.


Three-billion pounds will be spent on building new affordable houses.


Troubled Families Initiative to be increased by 200-million pounds.


Council tax freeze extended until 2016.


Civilian posts in Ministry of Defence to be cut, but there will be no reduction in armed forces personnel.


There will be a one percent increase in the military equipment budget.


Funding for the military covenant that supports troops and their families will become permanent.


Student maintenance grants will be frozen.


Science budgets to increase by four-point-six-billion pounds.


A two-billion pound growth fund will be set up to help local enterprise partnerships.


Budgets for schools in England will be protected, and a new National Funding Formula will ensure fairer distribution of funds.


180 new free schools will be funded.


There will be a slight rise in the NHS budget in England, while capital spending within the health service will increase to four-point-seven-billion pounds.


Flood defence projects will be given more money.


Tax incentives will be offered for shale gas drilling.


The International Development budget has been protected.


50-billion pounds of new infrastructure projects will be announced by Treasury Secretary Danny Alexander tomorrow.


Devolved administrations in Scotland, Wales and Northern Ireland will have grants cut by two percent.


The Police Service of Northern Ireland will receive 31-million pounds of new funding.



DEPARTMENT BUDGETS


Work and Pensions - down 9-point-5 percent.


Local Government and Communities - down ten percent.


Culture Media and Sport - down seven percent BUT elite sport protected, and museums and arts organisations funding only reduced by five percent.


Defence - resource budget frozen.


Home office - down six percent BUT police budget down by "less than six percent", and there will be a three-point-four percent increase in budget for intelligence services.


Justice - down ten percent.


Transport - down nine percent.


Business, Skills and Universities - down six percent.


Education - resource budget increases to 53-billion pounds.


Environment, Food and Rural Affairs - down ten percent.


Energy - down eight percent.


Foreign Office - down eight percent, but there is more money for new embassies.


Scotland, Wales and Northern Ireland Offices - down ten percent.


Cabinet Office - down ten percent.
posted by Radio Jackie News Team @ 3:05 pm  

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