U.K. Chancellor of the Exchequer George Osborne said the Spending Review 2015 launched Tuesday plans to eliminate the deficit and run a surplus.
The review, which will be published on November 25, will set out how the government will both invest in priority public services and deliver the GBP 20 billion further savings required to eliminate Britain’s deficit by 2019/2020.
“Creating a strong and stable economy is the best way to support working people,” Osborne said.
By 2015/16 the government will have made savings of GBP 98 billion, he said. The government will ask departments to identify how they will help to achieve the target of disposing of public sector land for at least 150,000 homes by 2020.
The report said central government alone has reduced its estate by 2 million square metres over the past five years.
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