Chancellor of the Exchequer, George Osborne
Chancellor of the Exchequer, George Osborne, arrives to speak at a news conference at the Treasury, in central London.

A gaffe by Chief Secretary to the Treasury, Danny Alexander has revealed that half a million job losses are set to emerge in the upcoming Spending Review - a Government strategy to cut the deficit released by George Osbourne today.

The coalition's austerity drive comes despite huge waves of protest across the country from working class postmen, nurses and teachers who presume their jobs are on the line. However, despite this, Chancellor, George, formerly known as Gideon Osbourne will outline the 'hard road' ahead as the Government takes on one of the biggest spending cuts in the Western World.

Departmental cuts are expected to average around 25 pct as the long-awaited Spending Review is revealed.

The British Broadcasting Corporation, is expected to face a six year license freeze amongst other budget cuts including funding for its World Service, and had even considered boycotting some of the coverage of the Spending Review a few weeks ago in protest.

Commuters are braced for a sharp rise in overground fares as the Department for Transport withdraws rail subsidies including the two year pay cap on London fares whilst thousands of police officers face a Home Office trim.