British Chief Secretary to the Treasury Danny Alexander says the government has identified even more cuts to the public spending just after the Treasury announced an extra \u00a311.5 billion savings package.\n<\/p>\n
The package was unveiled by Chancellor George Osborne for the 2015-2016 only on Wednesday.\n<\/p>\n
However, his deputy Alexander is now saying that that is not the whole story and similar cutbacks are expected annually for the 2016 to 2018 period.\n<\/p>\n
“We are going to do further efficiency reviews of departments because we want to maintain the momentum of making government more efficient,\u201d Alexander said.\n<\/p>\n
This is while the Institute for Fiscal Studies did not rule out the possibility of more austerity after the 2015 general election but said part of the cutbacks have to be compensated by taxing Britons by an extra \u00a36 billion.\n<\/p>\n
Britons have already suffered three years under Osborne\u00e2\u201e\u00a2s austerity drive.\n<\/p>\n
He unveiled his first spending review in 2010, cutting billions off the public sector budget and sacking thousands of state workers, in a bid to eliminate the national deficit by 2015.\n<\/p>\n
But the deficit has remained stubbornly high at 6.3 percent of annual GDP in 2012 compared to 11.5 percent in 2009.\n<\/p>\n
AMR\/HE<\/p>\n