Sunday, 29 November 2015

79%

Reading Borough Council needs to save £39million over the next three years.

Central government funding to the council has been cut by 40% since 2013/14.

This is on top of the £57million cut since 2011.

Many local services can no longer be afforded and are at risk.

Following last week's autumn statement and spending review by George Osborne, the independent Institute of Fiscal Studies has calculated how government spending will have changed over the ten years since the arrival of the coalition LibDem/Conservative government in 2010 and the end of the current Conservative administration in 2020.

  • Local government spending will have been cut by 79% since May 2010.
  • Transport cut by 70%
  • Justice cut by 45%
  • Environment, Food and Rural Affairs cut by 45%
  • Work and Pensions cut by 44%
  • Business, Innovation and Skills cut by 42%
  • Culture, Media and Sports cut by 36%
  • Home Office cut by 26%
  • Defence cut by 12%
  • Education cut by 3%


In July 2007 government debt was at 35.5% of the gross domestic product (GDP). After bailing out the banks following the global financial crisis, this rose to 56.8% by July 2009.

By April 2015 this figure had risen to 81.6% of GDP or £1.56trillion and still rising by £2billion every week.

Osborne's choice of austerity for some, to fix the national economy is not working.





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