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Minute by minute: Osborne's spending review

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As it happened: what George Osborne said in the Commons

13.33 - Average cut for unprotected departments as a result of welfare savings “will be lower than previous government implied in March Budget”. There will be cuts of 19% over the four years.

13.31 - £15.8bn put aside for refurbishing and rebuilding schools

13.29 - Real increase in money for schools for each of next four years

13.28 - Regional Growth Fund to receive £500m in third year on top of £1bn already announced

13.27 - Crossrail will go ahead and key tube lines will be upgraded

13.25 - “Over next four years we will invest £30bn in transport projects, more than last four years”

13.20 - £1bn set aside for green investment bank

13.18 - “Largest ever investment in adult apprenticeships”

13.13 - “Total health spending will rise each year over and above inflation”

13.12 - “We will keep benefits for pensioners, free eye tests and prescriptions, bus passes, tv licenses and winter fuel”

13.08 - Local authorities to be given more flexibility to manage council tax benefits

13.04 - Consultation to be launched on Fair Deal system as Hutton recommended

13.04 - Must be an increase in employee contributions but “staggered and progressive”

13.03 - Findings of Lord Hutton’s pension reform. Public service pensions to remain defined-benefit, “a gold-standard”

13.02 - State pension age for men and women to reach 66 by 2020

12.56 - Every government department to publish a business plan next month on their contribution to reforms

12.54 - MoJ funding also falling by 6% each year

12.53 - Police spending falling by 4% each year, Home Office budget by 6% per year

12.49 - New Homes Bonus and TIFs confirmed

12.48 - Extra £2bn for social care by 2014/15

12.47 - (Almost) all grants to local government un-ringfenced from next year. Exceptions - “simplified” schools grant and public health

12.46 - Council funding to be cut by 7.1% per year over next four years.

12.44 - Sorry, coverage being interrupted

12.42 - Efficiency savings identified from Whitehall departments doubled to £6bn. Admin budget of every department cut be 1/3

12.41 - “Spending review underpinned by far-reaching programme of public service reform”

12.40 - “We must support spending in those areas most likely to support economic growth”

12.40 - “In every area we make savings we must leave no stone unturned in search for waste”

12.37 - Spending totals to be £651bn next year, £655bn, £679bn and £693bn in 2014-15

12.34 - Osborne: We have chosen to spend on the most important areas: education, health, defence

12.33 - Osborne pledges to “reform the welfare system that our country can no longer afford”.

12.31 - Here we go.

12.30 - Right, it’s time. LGC is hearing rumours of a figure of 26% cuts to the formula grant. But does that include all the changes around ring-fenced grants? All shall soon be revealed…

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