LONDON Jan 6 Britain needs to cut 25 billion
pounds ($41 billion) in spending after next year's election to
reduce borrowing, finance minister George Osborne said on
Osborne will stress in a speech later on Monday that the job
of reducing Britain's budget deficit is far from done.
"We need to find a further 25 billion pounds of cuts after
the election. We have to make decisions about where those cuts
are to be found," Osborne said in an interview with the BBC.
The welfare budget is likely to bear the brunt of further
cuts, the finance minister said.
"This enormous welfare budget, that ultimately is where you
can find substantial savings," be said.