Government spending cuts to come: report

The Government’s spending review committee, also known as a ‘razor gang’ are searching for more budget savings, which will mean job cuts in Canberra, ACT Liberal Senator Gary Humphries says.

The news comes amid debate about whether the Government will be able to achieve its target of getting the budget back into surplus by 2012-13. The slowing world and domestic economies make the challenge much harder for the Government and the Opposition has pointed out Labor has subtly changed its wording on the issue. It now describes the 2012-13 surplus as an objective rather than a target, it says.

The Australian Financial Review reports that the savings could come in health programs, government waste and a review of Medibank Private.

It said the Finance department also wanted to “consolidate the administration of federal courts and tribunals; make further savings from co-ordinated government procurement; more efficient and effective information communications and technology across government; and the sale of commonwealth property’’.

Read more here.