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George Osborne unveils biggest spending cuts since 1945

Chancellor George Osborne Chancellor George Osborne

CHANCELLOR George Osborne has targeted £7billion of welfare benefits cuts in the biggest spending cuts since 1945.

He has raised the pension age to 66 by 2020, while savings will be made in incapacity benefit, tax credits and housing benefit.

Details of a new bank levy will be revealed tomorrow (Thursday)

Follow live updates from the Treasury, have your say on the Comprehensive Spending Review announcements and view the official documents.

Spending Review - official Treasury documents

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Comments(4)

JANEAUSTEN says...
5:53pm Wed 20 Oct 10

I'm so glad "we're all in this together".

free wessex says...
8:56pm Wed 20 Oct 10

Up to a 30% cut in local government funding and West Dorset District Council persists with the stupid waste of my, yes my money, on Charles Street, ha! we're all in it together.. Clarke and Gould you make me sick!

K9 says...
12:39am Thu 21 Oct 10

That's odd. Nick Robinson on the BBC News tonight said they were the worst spending cuts since 1976, when Britain had to go cap in hand to the IMF.

CoogarUK.com says...
12:40am Thu 21 Oct 10

They know we can't afford it, yet still insist on rubbing the electors' noses in it. Shame!

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