UK Chancellor George Osborne is going to announce significant cuts in spending today in areas including social care, policing, further education and renewable energy.
The Autumn Statement and Spending Review will finally detail, after weeks of media speculation, the cuts of £20 billion (€28.45 billion) to Whitehall budgets and £12 billion (€17.07 billion) to welfare.
Osborne is also going to make almost £7 billion (€9.96 billion) available for building houses, which will include over 400,000 new ‘affordable homes’ for England.
The Chancellor has spoken of the ‘crisis of home ownership in our country’ and has promised a ‘bold plan to back families who aspire to buy their own home.’
The Treasury has described the plan as ‘the biggest affordable housebuilding programme since the 1970s.’
The Conservatives have spoken out against the plans with Shadow chancellor John McDonnell saying that, ‘the cuts are putting people’s livelihoods at risk.’
John Healey, the shadow housing minister added: “If hot air built homes, then Conservative ministers would have our housing crisis sorted.”
The Treasury has said that front-line NHS services in England will get a £3.8 billion (€5.41 billion) above-inflation boost in 2016. Monday’s Strategic Defence and Security Review, also revealed that spending for defence is set to be increased.