Spending Review: All the key points

clock

Chancellor George Osborne has unveiled a range of cuts to government spending, aimed at bringing the UK's burgeoning deficit under control.

George Osborne: - "It is a hard road but it leads to a better future." - "Today is the day when Britain steps back from the brink." - "Tackling this deficit is unavoidable. The decisions about how we do it are not. There are choices - today we make them" - The UK is paying £43bn a year in debt interest, Osborne says. - "Debt interest payments will be lower by a total of £5bn over the course of this review." - Osborne says debt interest payments will be lower by £1bn in 2012, £1.8bn in 2013 and £3bn in 2014. - "It takes time to turn around the debt supertanker" - Osbo...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Bank of England 'presses pause, not stop' as it holds rates at 3.75%

Bank of England 'presses pause, not stop' as it holds rates at 3.75%

Majority of 6-3

Patrick Brusnahan
clock 30 July 2026 • 2 min read
Burnham calls for National Care Service acceleration

Burnham calls for National Care Service acceleration

Social care commitments

Cameron Roberts
clock 29 July 2026 • 4 min read
News editor's view: Burnham's Britain arrives

News editor's view: Burnham's Britain arrives

The news editor's Friday Night Takeaway from 24 July

Isabel Baxter
clock 24 July 2026 • 3 min read