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Autumn Statement 2015: Osborne Finalises His Spending Review

Autumn Statement 2015: Osborne Finalises His Spending Review

George Osborne has finalised details of the his five-year spending review. He will deliver his second statement as the Chancellor of a Conservative government on Wednesday 25 November 2015. Over the course of the last few months, he has been presented with three significant issues: the deficit has fallen at a slower pace than he would have liked; his tax credit reforms have been immensely unpopular; and government departments have not welcomed his policy of austerity.

Still, the Chancellor claims that ministers have agreed “amicably” to a series of cuts. Britain’s community policing has been in the spotlight due to recent terrorist activity. Mr Osborne has been under pressure to protect the police force by police chiefs, who claim that cuts in this area could weaken the fight against homegrown jihadis. Nonetheless, Mr Osborne has not given guarantees that the police force would be protected. However, he has confirmed that the budget for counter-terrorism will receive a 30 per cent increase.

With regards to the tax credit reforms touched upon above, Mr Osborne has said that he is willing to listen to critics of these reforms. Indeed, he indicated that he would find money to soften the impact of these cuts. This, combined with weak tax revenues means that it may not be possible for the Chancellor to deliver his planned £10 billion surplus by the end of parliament.

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