Coalition announces Spending Review

<p>The Spending Review will take place on June 26th.</p>

Chancellor of the exchequer George Osborne has announced the coalition government's next Spending Review is going to take place in the summer.

He confirmed that it will be revealed on June 26th and shadow chancellor Ed Balls stated it is a Spending Review the chancellor did not want to have to carry out.

Mr Balls highlighted the fact that the coalition government said it would have the economy under control by this time.

He said: "They said their plan would balance the books by the time of the next election, but their failure to deliver economic growth means there is now set to be a deficit of over £80 billion in 2015/16."

Mr Balls accused Mr Osborne and prime minister David Cameron of wanting to stick with the same "failing policies" that have failed to get the economy moving.

The UK's economy will drop into a triple-dip recession this spring unless there was growth between January and March.

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