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Last updated: 27 Sep, 2014  

UK.9.Thmb.jpg British govt. sets out deficit-tackling savings plan

UK.9.jpg
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» Morgan Stanley upgrades India’s growth at 6.2 pc for FY26 and 6.5 pc for FY27
» Good discussions on expediting first tranche of India-US trade pact: Piyush Goyal
» FTA likely to double India’s apparel, textile exports to UK: Report
» BPCL invests Rs 88 crore to support over 30 startups: Hardeep Puri
» Indian rupee opens stronger, gold prices show upward trend
DPA | 24 May, 2010
The British government is to cut some 6.2 billion pounds ($9 billion) from its budget this year, in an effort to tackle its national deficit, British Chancellor of the Exchequer George Osborne announced Monday.

Osborne said there would be a civil service recruitment freeze, as well as cuts to IT programmes and non-governmental organisations, the BBC reported.

Funding for schools and 16-19 year olds' education would be protected, Osborne said.

The largest budget cuts would be taken from the local government, transport and education departments, the Press Association reported.

The announcement is the first step in the new centre-right coalition government's attempt to eliminate the bulk of Britain's budget deficit - estimated at 156 billion pounds - over the next five years. 
 
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