"Further reductions will gravely affect our children," the board added.

"And reductions would disproprortionately affect family homes rather than small flats."

But union leaders have said that the reductions and the retirements will affect public safety.

The Mayor said in his budget that the reductions would not affect direct services to the general education of students.

Economic officials later confirmed that the reductions would indeed affect virtually every worker.

The first reductions would affect new loans made after July 1.

These reductions affected the working poor, the disabled and the elderly.

It is absolutely incredible that this criticism should be made when the reduction in tax affects citizens rather than companies.

Indeed, not only are they absent; the reductions would affect these programmes most of all.

White House officials said the reductions in the subsidies would not affect students or the amount of money they can borrow for higher education.