The Chancellor of the Exchequer will publish the government's Spending Review on 25 November with the unequivocal aim of "repairing Britain's finances" to "eliminate the deficit by 2019/20". July's Budget confirmed £12bn is to be slashed from the welfare bill with a further £5bn saved by clamping down on tax avoidance, evasion and other irregularities. That leaves £20bn to find over the remaining four years of this parliament (see graph, opposite).
Government departments have been asked to model two scenarios of 25 per cent and 40 per cent savings by 2019/20, on top of similarly huge reductions over the previous five years.
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