Britain faces renewed austerity under Rishi Sunak’s plans to cut spending with reductions in budgets for schools, policing, transport and councils, Report informs referring to The Times.
Prime Minister Rishi Sunak and his chancellor, Jeremy Hunt, intend to slow increases in spending after 2025 from the planned 3.7 percent to as little as 1 percent.
The plans will form a major part of the government’s attempt to fill a £55 billion black hole in the public finances by 2027-28, saving an estimated £25 billion a year.
However, economists said that there would be a significant squeeze on spending because the budgets outside protected areas such as the NHS would rise by less than inflation.