1. ITV Report

Does the Spending Review affect your finances?

Chancellor George Osborne delivered his review to the House of Commons on Wednesday afternoon. Photo: PA

If you work in the public sector

  • Automatic progression pay will be scrapped in 2015-16, stopping public sector employees automatically moving up a pay grade every year
  • Public sector pay rises will be limited to an average of up to 1% for 2015/16
  • Further cuts in public spending will lead to an estimated loss of a further 144,000 jobs by 2015/16, according to predictions by the Office of Budget Responsibility

Deputy Political Editor Chris Ship reports on the cuts affecting public sector workers:

If you are a pensioner living abroad

  • Payment of winter fuel payments for people living abroad will be linked to a temperature test from autumn 2015 to ensure pensioners in hot countries do not get it
British pensioners living in Spain will likely lose their Winter Fuel Allowance. Credit: PA

If you are recently unemployed

  • A new seven-day wait before claiming unemployment benefits will be introduced and all job seekers will be made to attend the job centre every week

Non-English speakers

  • "If claimants don't speak English, they will have to attend language courses until they do," George Osborne told the Commons today, adding that benefits would be cut if they refused

If you pay council tax

  • Funding will be given to councils for a two-year freeze council tax, saving bill-payers an average of £100 a year

If you are a student on a maintenance grant

  • Student maintenance grants will be frozen in cash terms - so a real terms cut - in the 2015/16 academic year, saving £60 million, BIS predicted
Students will have their maintenance grants frozen. Credit: PA

If you pay a water bill in the south west

  • Water bill rebates in south west England, worth £50 a year because of very high bills, will be extended beyond 2015

More cuts in the future?

A new welfare cap will be set each year at the Budget for four years, applying from April 2015, will trigger a public warning from the OBR if the Government looks set to breach it because of a failure to control welfare spending.