The significance of the Spending Review

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June 25, 2013 at 13:38

In 2010 the Spending Review set departmental expenditure limits (DELs) from 2011/12 to 2014/15, outlining details of savings in the region of £86bn over that time. Tomorrow, nearly three years later and not much closer to eliminating the structural deficit, a new Spending Review will set DELs for the year 2015/16, aiming to achieve another £11.5bn of cuts. The next general election is set for 2015 and Labour has already said they will honour DELs set for the 2015/16 financial year.  The significance of this review is not necessarily the length of the period to which it refers though, but […]