Spending Review: What we already know

George Osborne will set out measures on housing today

Tax credits - The Government’s plans to cut tax credits have provoked criticism even from its own benches. Today’s statement is expected to include measures to soften the blow and reassure Conservative MPs.

Health - Over the course of the parliament the Government is committed to increasing spending on the health service by £10 billion. It was confirmed that spending will be “frontloaded” earlier this week.

Housing - Mr Osborne will return to one of his major themes, housing, with plans for starter homes and specialised homes for older and disabled people.

Schools and international development - Along with health, these areas of spending are protected from the cuts.

Defence - The Government is committed to spending two per cent of GDP on defence. Plans for MOD spending were published earlier this week.

Transport, Environment, Food and Rural Affairs, Communities and Local Government, Treasury - Across these departments spending will be cut by 30 per cent over the next four years.

Pension - Basic state pension will rise to £119.30 from April.

Enterprise zones - Chancellor expected to deliver on election promises to establish more enterprise zones offering incentives to business.

Policing and the Home Office - With spending protected on health, schools, defence and international aid, there aren’t that many places left for the Chancellor to make his cutbacks. This means that the Home Office (particularly policing), Justice and Business are expected to bear the brunt of budget reductions. Those three departments may receive cuts of 40%. In Sheffield people employed by the Home Office who work on removals and case work, and at the Department for Business, Skills and Innovation, who work on economic analysis, furthering small businesses and provide back room functions are concerned that this Spending Review will lead to significant job losses further down the line.

George Osborne - Once again the Chancellor gets prime time in the House of Commons to set out his case for leadership of the party once David Cameron steps down at the end of this Parliament. He will be using his speech today to try and promote himself as a man in control, and an economic genius who is turning the country’s fortunes around.