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These have not been made public yet, but reports suggest the recommendations are for more than the health and education departments have budgeted for this financial year.

He subsequently halved this target and on 10 April talked about making savings of $150bn from "cutting fraud and waste" by the end of the next financial year in 2026.

It currently gets most of its income from the licence fee - in the last financial year, the BBC received £3.7bn, or about two-thirds of its total income, from it.

He added at the end of the financial year, debt remained "close to the annual value of the output of the economy, at levels last seen in the early 1960s".

The fund – £4.387m for the 2025/26 financial year – will be used to help residents with food, for energy grants, council tax relief and aid for care leavers and other vulnerable groups.