Autumn Statement: austerity until 2018

A localgov article stipulated that:-

Chancellor George Osborne’s Autumn Statement has confirmed the extension of austerity measures until 2018, squeezing local government into a longer period of financial retrenchment.

Osborne told a packed House of Commons: ‘It is a hard road and Britain is on the right track. Turning back now would be a disaster.’

The chancellor ruled out additional £17bn public spending cuts to meet the government’s debt target, despite weak economic growth. Osborne said the Coalition was on course to meeting its fiscal target – of having a better than 50% chance of eliminating the current structural deficit in five years’ time.

Local government is to be spared the 1% cutbacks facing unprotected central government departments in 2013/14, the chancellor announced. But Osborne said councils would be subject to the full 2% cash reductions sought from Whitehall departments in 2014/15.

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