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Osborne budget cuts

Chancellor George Osborne has reached an agreement with all his Cabinet colleagues over the extent of cuts to their department's budgets, the Treasury said.

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Chancellor to make Whitehall budget cuts

The Chancellor is expected to tell MPs on Wednesday that the UK economy is healing but also enforce a new round of cutbacks in the Whitehall budget.

Britain is moving from rescue to recovery. But while the British economy is leaving intensive care; now we need to secure that recovery.

Full recovery won't be easy but I won't let up in my determination to put right what went so badly wrong. We are already making progress: the economy is growing, more than a million new jobs have been created by British businesses and the amount the government has to borrow each year - the deficit - is down by one third.

But there's more we have to do - it's time for the next stage of our economic plan.

We're saving money on welfare and waste to invest in the roads and railways, schooling and science our economy needs to succeed in the future.

I know that times are still not easy for families. But we have a clear economic plan. We've stuck to it. It is working. And I'm determined to go on delivering it.

Now, together, we're moving Britain from rescue to recovery let's build an economy that works for everyone.

– Chancellor George Osborne

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