Osborne Agrees to U.K. Government Budget Cuts of $18 Billion
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U.K. Chancellor of the Exchequer George Osborne has reached deals with his fellow ministers to cut 11.5 billion pounds ($17.7 billion) from spending for the year beginning April 2015.
A weekend of negotiations between the Treasury, which was looking for cuts, and other departments trying to protect programs resulted in agreements three days before Osborne sets out details to Parliament in a statement on June 26.