article_snippet: George Osborne said George Osborne needed to slash a further £30billion from government spending by 2017/18, with £12billion of savings coming from the welfare budget.
article_snippet: Government spending as a percentage of GDP will no longer fall to the lowest level since the 1930s, after George Osborne dropped plans to run a £23billion surplus in 2019/20 .
article_snippet: The Office for Budget Responsibility said plans to run a £23billion surplus in 2019/20 amounted to a 'rollercoaster' of public spending.
article_snippet: George Osborne's proposal to end austerity a year earlier than expected appeared to be designed to blunt Labour's claim that state spending will shrink to a level not seen since the 1930s.
article_snippet: But delivering his Budget today, the Chancellor said new plans would mean state spending as a share of national income the same size as Britain had in 2000 - when Labour was in office - but before, George Osborne said, 'spending got out of control'.
article_snippet: the Chancellor used George Osborne speech to trumpet official forecasts showing better economic growth.
article_snippet: Borrowing will also be £5billion less than expected over the next three years, George Osborne said.
article_snippet: Under George Osborne's plans, Government spending will fall as a proportion of GDP to a level last seen in 2000 under Tony Blair .
article_snippet: The Government is still spending £90 billion more than The Government raises in taxes – and this will only be wiped out by 2018/19.
article_snippet: For 2015/16, the deficit will be cut to £75.3billion in 2015/16
article_snippet: and then £39.4billion the following year.
article_snippet: In 2017/18 it will fall to £12.8billion before moving into a surplus of £5.2billion the year after.
article_snippet: But in 2019/20, the planned surplus will only rise to £7billion instead of the previously planned £23.1billion.
article_snippet: He said: 'This is a Budget that takes Britain one more big step on the road from austerity to prosperity. '
highlights_snippet: Government will slash £30bn from government spending by 2017/18 .
  
highlights_snippet: Austerity had been pencilled in for four more years after general election .
  
highlights_snippet: But Government will now end Government cuts programme in 2018/19 .
  
highlights_snippet: Office for Budget Responsibility said Office for Budget Responsibility was a spending 'rollercoaster' 