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Hi anonymous 6:38 - the £20bn is the total savings target over a four year period that began somewhere around 2009 and runs to end of 2014/15 financial year (yes, I know that doesn't add up to four years, but hang on in there).

David Nicholson, Jim Easton et al have all publicly made it clear that the need for savings will continue. Indeed Sir D was talking about it running to 2020 at today's Confed conference. Interestingly a delegate asked Sir D whether that means that cumulatively this would run to £50bn+ savings and if so where's this going to come from.

I missed the answer to that...