P502 Teletext 502 Jun24 00:52:31 ————————————————————————————— CABINET BACKS £262bn CEILING The Cabinet has endorsed the £262.8bn ceiling for public spending next year set out by Chancellor Kenneth Clarke in his 1994 Budget. That might seem profligate to the right wing of the Tory Party, which is demanding a radical rolling-back of the State to finance big tax cuts. But public spending is on a downward trend as a proportion of GDP. ——————————————————————————————————————— Financial headlines 500 City index 501 TAX, SAVINGS, MORTGAGES - SEE p540 Next Headlines Shares Family Finance