The receiver, Robert G. Flanders, said the plan would ensure balanced budgets starting in 2013.
"I walked a very lonely road to balance the budget starting in 1989.
That's because Philip Hammond raised the threshold for higher-rate income tax in last autumn's budget, starting in April.
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But those manoeuvres aren't enough, so David Willetts, minister for universities and science, is proposing a £100m cut to the annual research budget starting this coming April.
Lawmakers, meanwhile, sprinted to approve the dozen or so bills that make up the budget, starting with less contentious measures and finally taking up the portions of the budget dealing with state funding for schools and local governments late Wednesday.
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If they aren't suspended or adjusted, the caps will almost certainly push down NIH research budgets starting a year from now.
When the Democratic Party took power last August it announced it would rewrite the rules for preparing budgets, starting with the budget for fiscal 2010 proposed by the long-ruling Liberal Democratic Party just 2 days before its historic electoral defeat.
A "reform" would pull $650 million a year from the budget starting in 2019 of what has become an important force in protecting consumers.
This week, the cabinet approved an emergency budget starting April 1, according to the authority's official news agency WAFA.
