pensions and social security benefits in 2015 is expected to be 9.7bn lower than previously forecast, which comes on top of the 3.4bn saving on the interest paid on the Government's total 1.32 trillion of debt that year. Overall, the spending review has reduced expenditure by 800m and increased revenues by 700m in 2014. The profile of the deficit reduction has not changed much, falling from 148.5bn to 18bn between 2010 and 2015 compared with June's forecast of a fall from 149.1bn to 20bn. Debt as a percentage of GDP follows a similar trajectory to June's outlook, peaking at 69.7pc in 2013. Some economists said the OBR was over-optimistic in its outlook for growth, which Chote admitted is higher than most independent forecasts -- bar the Bank of England. But there's no reason to believe he's gone soft. Osborne can chalk this up as a rare endorsement.