United Kingdom Breaking News: Britain's Osborne Reaches Deal on Spending Cuts

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United Kingdom Breaking News: Britain's Osborne Reaches Deal on Spending Cuts

United Kingdom Breaking News: Britain's Osborne Reaches Deal on Spending Cuts
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United Kingdom Breaking News: Britain's Osborne Reaches Deal on Spending Cuts

Wochit 0:57 mins

British finance minister George Osborne completed talks on Sunday with government departments aimed at securing spending cuts worth 11.5 billion pounds ($17.70 billion) in 2015-16 to help reduce the country's budget deficit, the Treasury said. The finance ministry said it had reached agreement with all departments, three days before Osborne is due to publish details of their spending limits on June 26. The observation about the thicket of British talent in the American media landscape is hardly new, but something is at work here. The Telegraph newspaper said that Lloyds Banking Group has asked the European competition authorities to give it an extra two years to sell the hundreds of branches it is required to dispose of as a condition for its state bail-out.

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