Osborn to unveil plans up to 2020
British Finance Minister George Osborne is set to renew his push to fix the country's public finances.
He is expected to tell parliament that he is still aiming for a budget surplus by the end of the decade, which could allow him to deliver income tax cuts, as promised, before the next election.
But the size of the projected surplus is likely to be revised down after one of Osborne's most controversial savings ideas was blocked in a rare rebellion by the upper house last month.
Official figures say the spending squeeze between now and 2020 represents the most aggressive austerity push by any rich economy.
Some government departments could see their budgets slashed by 50 percent over the decade to 2020.
Many economists say Osborne's insistence on a budget surplus had more to do with scoring political points over the Labour opposition party than economics.
It remains to be seen if Osborne is able to stick to his spending purge - he is off-course to meet his target for the current financial year - and whether an impact on services could upset voters who as recently as May gave his Conservative Party a new parliamentary majority.
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