Bloomberg News

U.K. Treasury Agrees 2015-16 Budgets With Six More Departments

June 14, 2013

The U.K. Treasury has reached settlements with six more departments, including the Home Office, in its negotiations for the 2015-16 spending round.

Chancellor of the Exchequer George Osborne on May 28 announced deals with the first seven departments. His target is to cut 11.5 billion pounds ($18 billion) off spending in that year. With the budgets of more than half of government departments provisionally settled, the Treasury said it remains on course to meet its goal. There are still 10 departments, including the Ministry of Defence, that have yet to reach deals.

“None of the spending choices we make are easy, but ensuring the U.K. can pay its way in the world is vital to our long terms prosperity,” Chief Secretary to the Treasury Danny Alexander said in an e-mailed statement. “Settling over half of departments with two weeks to go shows how committed the whole of government is to dealing with the deficit.”

The chancellor is scheduled to announce his 2015-16 spending plans in Parliament in London on June 26. In today’s announcement, police counter-terror capabilities, which are funded by the Home Office, are protected, the Treasury said.

In total, 3.6 billion pounds of savings have been agreed on with departments so far.

To contact the reporter on this story: Robert Hutton in London at rhutton1@bloomberg.net

To contact the editor responsible for this story: Andrew Atkinson at a.atkinson@bloomberg.net


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