UK fin min in slashing mode in his bid to get public finances back into surplus

Osborne will announce the cuts later today in front of the spending review on 25 Nov

Four departments , treasury, transport, local govt and environment have all agreed deals and will be expected to cut day-to-day spending over the next four years through a combination of efficiency savings and closing low value programmes.

In his speech Osborne will warn that if the government does not control spending there is a risk of loss of confidence in the economy.

"The deficit could bring our country down."While debt is high, our economic security is in danger.

No-one knows what the next economic crisis to hit our world will be, or when it will come. But we know we haven't abolished boom and bust."

The BBC has more here

Prudent, long overdue , measures or killing the goose laying any kind of egg?

The jury remains out