Following the 2010 United Kingdom general election, the UK Government announced plans to curb public spending through the abolition of a large number of quasi-autonomous non-governmental organisations (quangos). On 23 May 2010, Chancellor of the Exchequer George Osborne unveiled a £500million plan to reduce the budget deficit by abolishing or merging many quangos. This was styled in the national press as a "bonfire of the quangos", making reference to Girolamo Savonarola's religiously inspired Bonfire of the Vanities ("falò delle vanità"). The cuts and closures received criticism in some quarters, but was generally welcomed by the business community.