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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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MOD: Budget cuts are 'tough by deliverable'

The Ministry of Defence has confirmed that it has reached an agreement with the Treasury on its future budget.

A tough but deliverable settlement has been achieved that assists the Treasury's savings targets while protecting military manpower, capabilities and a fully funded but efficient equipment programme. Further genuine efficiencies have been found which has ensured there will be no reductions in military output as a result.

– Ministry of Defence Statement

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