George Osborne Announces Royal Mail Sell Off and Deep Spending Cuts

George Osborne has announced that he will sell off the government's remaining stake in Royal Mail while making £3billion worth of cuts this year to all unprotected government departments.
The Ministry of Defence, the Department for Education and Business, Innovation of Skills will be at the forefront of the cuts and share the burden of nearly £1.5billion worth of spending reducations between them.
The £500million worth of cuts to the Ministry of Defence will prove particularly controversial as it will raise concerns that the government is unlikely to commit to spending the Nato target of 2 per cent of national income on defence.