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23/04/2012
Government Departments Asked To Find A Further £16bn In Savings
All governments departments have been asked by the Treasury to identify about £16bn more savings which could be made if needed to pay for any unforeseen events.
Danny Alexander, chief secretary to the Treasury, says they must identify 5% of their budgets as part of measures to tighten financial management.
Departments will also be expected to monitor and share spending information with the Treasury on a monthly basis.
He said the UK finances would never again be allowed to get into "a mess".
Outlining the changes in a speech to the Institute of Fiscal Studies think tank, Mr Alexander stressed the importance of "fiscal discipline".
"In an environment of economic uncertainty, with ongoing instability in the eurozone, the UK's large deficit remains a crucial economic vulnerability," Mr Alexander said.
"It remains a clear and present danger to stability."
(H)
Danny Alexander, chief secretary to the Treasury, says they must identify 5% of their budgets as part of measures to tighten financial management.
Departments will also be expected to monitor and share spending information with the Treasury on a monthly basis.
He said the UK finances would never again be allowed to get into "a mess".
Outlining the changes in a speech to the Institute of Fiscal Studies think tank, Mr Alexander stressed the importance of "fiscal discipline".
"In an environment of economic uncertainty, with ongoing instability in the eurozone, the UK's large deficit remains a crucial economic vulnerability," Mr Alexander said.
"It remains a clear and present danger to stability."
(H)
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