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IFS: Autumn Statement means 'colossal cuts'

Yesterday's Autumn Statement means the UK is set for "cuts on a colossal scale", according to the Institute for Fiscal Studies.

George Osborne earlier condemned "hyperbolic" coverage of his spending plans.

Public spending is likely to fall to its lowest level since the 1930s during the next Parliament, according to new analysis from the Office for Budget Responsibility.

However, Osborne said warnings over the cuts were "nonsense" - particularly targeting the BBC for criticism over its coverage.

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IFS: Autumn Statement means 'colossal cuts'

George Osborne's Autumn Statement will mean "spending cuts on a colossal scale" after next year's general election, the Institute for Fiscal Studies has said.

ITV News Economic Editor Richard Edgar is at the IFS Autumn Statement briefing.

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