Sentences with phrase «cent spending cuts»

Chancellor George Osborne has ordered cabinet ministers to draw up plans for the 40 per cent spending cuts, which will include slashing services and axing hundreds of thousands of jobs.

We have to wait for the spending review, after the conclusion of Labour's leadership election, to find out about the 80 per cent spending cuts.

Not exact matches

The defence contractor will cut 4,000 jobs, about 3.5 per cent of its workforce, amid vastly reduced government spending.

But instead of increasing spending on post-secondary education, Advanced Education Minister Murray Coell recently announced he's saving $ 16 million by cutting college and university budgets by 2.6 per cent.

The US export sector is getting the benefit of a lower dollar; there's a significant fiscal package in the pipeline, which will add more than 1 per cent of GDP to private spending power; and sharp cuts have been made in US official interest rates, with financial markets expecting more to come.

Under the Canada Economic Action Plan the deficit will be eliminated by 2015 - 16; although total net public debt will have increased by $ 150 billion, the debt ratio will have declined to 33.0 per cent in 2015 - 16 and reach the government's target of 25 percent by 2019 - 20; program spending will fall to below 13 percent of GDP and will continue to fall thereafter; public sector jobs have been eliminated; and income and corporate taxes have been cut.

(President Clinton's 1993 budget plan, which passed with no Republican votes, took a similar approach by cutting spending and increasing the top marginal income tax rate by three per cent, to 39 per cent.

The Liberal government spends only five per cent of the province's GDP on agri - food (far below the national average of 14 per cent), cut thesuccessful Buy B.C. program, and in 2009 cut theAgriculture and Lands budget by 25.4 per cent.

Meeting defence spending alone, now estimated at 11 per cent of GDP and rising, will mean making cuts elsewhere.

A fiscal package announced in April contained measures equivalent to around 3 per cent of GDP, aimed at providing a significant boost to domestic demand through tax cuts and new spending.

Metcash's first - half underlying net profit fell 9 per cent to $ 101.7 million as the grocery, liquor and hardware wholesaler cut prices and spent more on marketing to drive sales growth.

A modelling exercise for the Resolution Foundation by the Institute for Employment Research and the Institute for Fiscal Studies finds that on the basis of annual average UK growth of 2.5 per cent from 2015 - 2020 — an optimistic scenario — and no further cuts in public spending, living standards will fall for low and middle income households by between 3 and 15 per cent (Brewer et al., 2012).

The structural deficit is now forecast to be not a surplus of 0.9 per cent of GDP but a deficit of 1.2 per cent of GDP in 2015 - 16 — breaking that objective by a wide margin, even with the extra spending cuts that have now been programmed in for that year.

Ninety four per cent of public spending cuts are yet to hit the UK, and the public sector is due to come under more pressure in the next few years.

The defence cuts follow an eight per cent overall reduction in the MoD's budget in the comprehensive spending review.

The official Labour position is that the deficit should be cut using a 2:1 ratio of spending cuts and tax rises — that's 67 per cent cuts and 33 per cent tax rises.

Among the party's other policies: a # 50bn a year cut in spending, a 31 per cent flat rate of income tax, the abolition of national insurance, a five - year freeze on new immigrants settling in Britain, a ban on wearing the burka in public - and in some private — buildings, and boot camps for young offenders.

Despite Labour's budget plan to cut spending in Scotland by # 400m, the prime minister has increased his popularity over David Cameron - up 3 per cent to 12 per cent in the last month.

«We've prevented a crazy 6 per cent rise in the EU budget, we've made sure the EU budget must reflect domestic spending cuts, and we've protected the UK taxpayer from having to bail out EU countries that get themselves into trouble,» he said at a press conference -LSB-...] A 2.9 per cent increase is expected to see Britain's contribution to the EU budget grow by about # 400 million a year.

Despite significant cost pressures on local government, our relentless pursuit of value for money has meant that we have cut council spending by # 7 million (or 4 per cent) in cash terms, cut the workforce by 18 per cent (or 950 full - time equivalent employees) and cut the council's debt by # 20 million.

The Department for Culture, Media and Sport, like all other government departments, must submit its plans to the Treasury on how it proposes to make further spending cuts of ten per cent by the end of the month.

The strategic defence and security review was published five months prior to the military operation in Libya, and set out an eight per cent cut to defence spending over the next four years.

Some 94 per cent believe that the deficit in the public finances should be tackled more by cutting spending than raising taxes, while only 2 per cent disagree.

Almost two thirds, 65 per cent, say they back «on balance» the coalition plan to cut spending and reduce the deficit, with 31 per cent opposing it.

Mr Osborne promised to balance the deficit within the next five years, saying that 77 per cent of the measures to do so outlined in the budget are spending cuts, while 23 per cent would come from tax rises.

In his Commons statement, Mr Osborne conjured up a trick of which Gordon Brown would have been proud: the average cut in departmental spending will be 19 per cent, lower than the 20 per cent implied in Labour's deficit - reduction strategy.

As part of the government's comprehensive spending review (CSR), the Ministry of Defence (MoD) is facing cuts of 10 - 20 per cent.

Economic recovery will be another casualty, as the government's attack on pay for nurses, social workers, paramedics, and PCSOs will hit spending power, and the 25 per cent department cuts will have a devastating impact on jobs, driving down much - needed demand in our economy.

Government spending cuts, totalling one per cent next year for most departments and two per cent for the following year, make up the remaining # 2.4 billion.

«However, this rate cut pales into insignificance compared to the 1.25 per cent cut the US Fed made in the last month, and will do little to stimulate consumer spending.»

Schools are already facing an eight per cent cut to their budgets, the first time education spending has fallen since the mid-1990s.

Economic recovery will be another casualty, as the government's attack on pay for nurses, social workers, paramedics, and PCSOs will hit spending power, and the 25 per cent departmental cuts will have a devastating impact on jobs, driving down much - needed demand in our economy.

Earlier this week, the government set out its comprehensive spending review (CSR) outlining plans to cut funding for social housing by more than 60 per cent, with new tenants in line to pay higher rents.

More changes are expected in the autumn spending review when some government departments face cuts in the order of 25 per cent, the chancellor warned.

State spending growth to be held to an average 0.8 per cent annually from 2011 to 2015, meaning cuts to some budgets and the scrapping of some programmes.

25 per cent thought measures including the VAT cut and loan guarantees to banks would help and were worth the money 64 per cent thought the government's measures weren't worth the money the government is spending on them.

The Chancellor Alistair Darling cut value added tax from 17.5 per cent to 15 per cent in 2008 as part of a package of measures aimed at stimulating spending to fight the recession.

As part of the government's comprehensive spending review, the Ministry of Defence (MoD) is facing cuts of 10 - 20 per cent in its annual # 37bn budget.

But this 10 per cent cut wasn't a carefully cooked Conservative ploy - it was based on the spending figures the government had itself set out in the budget.

Spending cuts vs tax rises The Conservative manifesto said 80 per cent of the deficit reduction would come from cutting sSpending cuts vs tax rises The Conservative manifesto said 80 per cent of the deficit reduction would come from cutting spendingspending.

A ComRes poll for The Independent today finds 55 per cent of voters favour public spending cuts to reduce Britain's debts, against 38 per cent who want taxes to be increased.

Equally pertinent is the fact that the 0.5 per cent fall in output in the fourth quarter of 2010 can not be attributed to Government cuts because there weren't any; spending was actually 5 per cent higher than in the same period of 2009, which rather holes Mr Balls's case below the waterline.

The French treasury has trimmed 8 per cent off this year's science ministry budget as part of the country's general spending cuts, leaving many laboratories in financial difficulty.

But Dearing wants a 45 per cent cut in the time schools must spend teaching science, from nearly six hours a week to just three.

Fashion sales up but future looks gloomy (Times Online) «Sales of clothes, shoes and textiles were 9.5 per cent higher than in April last year, the biggest annual rise since July last year... Analysts said that retailers would struggle to keep up the momentum as households faced sluggish earnings growth and political uncertainty as well as tax rises and spending cuts.»

A Freedom of Information investigation by Children and Young People Now magazine in 2013 found that 31 per cent of local authorities closed public playgrounds between 2010 and 2013 and cut spending on play by 38.8 per cent during the same period (# 67.9 million in 2010/11 — # 41.5 million in 2013/14).

However, looking at this objectively, while BESA's recent «Resources in English Maintained Schools» research shows that 2011/12 has seen budget cuts of 1.8 per cent in primary education and a 2.7 per cent drop in secondary education, schools still have significant funds to spend, particularly when compared with budgets ten, five or even two years ago.

In vetoing the measure, Mr. Florio had cited the Republican leadership's unwillingness to say in advance how it would cut spending or raise other funding to make up the $ 1 billion in revenue the 1 - cent rollback was expected to cost the state.

Referred to as «Austerity Schools» by some, the plans aim to reduce the cost of new school buildings by 30 per cent and will help local authorities cut capital spending.

The government's plans at the moment would see real - terms spending cuts of around 6.5 per cent between 2015 - 2016, and 2019 - 2020.