Osborne reaches budget cuts deal with colleagues

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

Over the weekend, Defence Secretary Philip Hammond and Business Secretary Vince Cable settled on the extent of their departments' contributions to the £11.5 billion of cuts for 2015/16, which are set to be announced on Wednesday.

Chancellor George Osborne.
Chancellor George Osborne has reached an agreement with all Government departments on budget cuts. Credit: Carl Court/PA Wire

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Osborne signs off budget cuts

The Chancellor, George Osborne has reached agreement with Cabinet colleagues over the extent of cuts to their budgets.