The Chief Secretary to the Treasury, Danny Alexander MP, has announced that government departments will be required to hold 5% of their budget as a contingency.
Government departments are being asked to identify billions of pounds of potential new savings as part of plans to tighten financial management.
Chief Secretary to the Treasury, Danny Alexander, says they must identify 5% of their budgets which can be cut if needed to deal with unforeseen events.
Departments will also have to monitor and share spending information with the Treasury on a monthly basis.
As we know, the MoD budgets is as tight as a drum, the annual shennigans of the Planning Round and volumes of UOR’s is testament to that, what impact is this going to have?
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