CHANCELLOR George Osbourne has just announed huge cuts in spending that will impact on the lives of everyone in Burnley and Pendle.

In the government’s four-year Spending Review to Parliament, he has outlined some of the deepest cuts in public spending in decades.

The key announcements are:

Some 490,000 public sector jobs are likely to be lost

There is an average 19% four-year cut in departmental budgets

The structural deficit to be eliminated by 2015

There will be £7bn in additional welfare budget cuts

Police funding is to be cut by 4% a year

The retirement age is to rise from 65 to 66 by 2020

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The NHS budget has been protected and £2bn extra allocated for social care

The schools’ budget is to rise every year until 2015

There will be £30bn capital spending on transport

There will be a permanent bank levy.

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