Chancellor To Unveil £4bn More In Spending Cuts

George Osborne is to announce a further £4bn of spending cuts by 2020 in this Wednesday's Budget. The Chancellor will say the cuts are necessary to keep his fiscal plan on course, and enable him to continue to hit a Budget surplus in the final year of this Parliament. But revisions by the Office for Budget Responsibility to the forecast for earnings, the stock market and for low inflation have eaten into that forecast surplus.