Public funds 'may be cut by third'

Spending on services like police, defence, transport and justice could be cut by a third by 2017/18 under Government spending plans, a report warned.

The plans suggest 1.2 million job losses in the public sector by that date, 300,000 more than predicted by the Government's official forecasters, according to the Green Budget published by the Institute for Fiscal Studies (IFS).
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