UK Slashes Public Spending

Chancellor George Osborne has outlined plans to cut £6.2bn of what he calls "wasteful spending" to start to reduce the budget deficit.There will be cuts to quangos, spending on consultancy and big IT projects and a civil service recruitment freeze.Child Trust Funds will be axed by January but funding for schools and Sure Start will be protected, he said.Shadow Chancellor Alistair Darling said Mr Osborne must "come clean" on the details and how many jobs were at risk.Of the cuts identified, £500m is to be reinvested in further education, apprenticeships and social housing, leaving a net spending cut of £5.7bn - less than 1% of total government spending.