How did Northern Ireland fare in the spending cuts?

The Treasury says the NI executive's budget has been cut by just under 7% The Treasury says the NI executive's budget has been cut by just under 7%

Northern Ireland is the region of the UK most reliant on state spending, with a third of its workforce employed by the public sector.

So there was considerable anxiety about the potential for job losses as a direct result of the Spending Review.

If the average reduction for Whitehall departments is 19%, then Northern Ireland would appear to have done fairly well.

According to the Treasury, the power sharing executive's current budget is being cut by just under 7%.

However Stormont politicians are unhappy, pointing to what they regard as a severe 40% cut in capital spending - the money used for new roads, schools, hospitals and public projects.

They say this will have a damaging impact on the local construction industry.

Having lobbied the government to stand by a previous pledge to provide an £18 billion capital investment programme, Northern Ireland politicians are now accusing the Treasury of reneging on that deal.

One group happy to hear the Chancellor's announcement are the 10,000 savers of the failed Presbyterian Mutual Society.

Mr Osborne's confirmation of a £200 million rescue plan should certainly sugar the pill of this Spending Review for those who feared losing their savings.

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