Accountancy Age, Accountancy Age, Thursday 21 October 2010 at 09:00:00

Key numbers in the spending review


81bn - total spending cuts by 2014-15, down from the 83bnpredicted in June Budget. 30bn of this sum was announced in Budget.

7bn - further cut in the welfare programme by 2014-15 inaddition to 11bn announced in Budget

Banks - bank levy will be permanent (details still to bepublished. Expected to raise more that Labour's one-off levy. Figures inSeptember fromHMRCshowed the bank payroll levy grossed 3.4bn for the exchequer).

1.1% - the level to which Public sector net borrowing willfall by 20115-16 as proportion of GDP. Currently stands at 11%.

548bn - total government receipts 2010-11

697bn - total government expenditure

148bn - public sector net borrowing 2010-11

15% - cut in HMRC spending by 2014-15 (HMRCwill cut admin costs by 33%, increase use of magistrates courts, endthe use of national insurance cards saving 1m, increase criminal prosecutionsfivefold, improve use of the internet, spend 900m on tackling avoidance andevasion to raise 7bn, reduce fraud in tax credit system by 2bn a year by2014-15)

10bn - saving in debt interest by 2014-15

2.5bn - saving on child benefits

1.7bn - saving on public sector pensions

2bn - on support for disabled who will never work and thosewho are waiting to return to work

Departments

33% - cut in Treasury spending

19% - average departmental spending cut

3.4% - cut in education spending

1.3% - rise in health spending

21% - cut in transport spending

25% - cut in department for business spending

23% - cut in Home Office spending

23% - cut in justice spending

7.5% - cut in Defence spending

24% - cut in Foreign Office spending

37% - increase in International Development

18% - in energy department

29% - cut in environment spending

24% - cut in culture spending

28% - increase in Cabinet Office spending

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