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Chancellor announces public sector spending cuts

20 October 2010
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Chancellor announces public sector spending cutsThe conclusions of the government's public sector spending review have been announced today (October 20th in parliament.

Chancellor George Osborne delivered a speech outlining the major cuts the Conservative-Liberal Democrat administration is imposing in order to reduce the country's budget deficit.

The plans include reductions in the workforce, which could impact upon those involved in operations management within the public sector.

Mr Osborne stated that the government believes the most accurate estimate for public sector job losses has been issued by the independent Office for Budget Responsibility, standing at 490,000 during the four-year period in question.

"Of course, there is understandable concern about the reduction in the total public sector headcount that will result from the measures in the Spending Review," he said, adding that much of the reduction will be achieved through natural churn.

The chancellor stated that each government department is producing a business plan that will outline its proposed reforms, which will be published next month.ADNFCR-3058-ID-800127338-ADNFCR
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