Business Green: Defra was yesterday hit with one of the worst budget settlements as part of the government’s spending review, with the chancellor George Osborne announcing that its budget will be slashed by 30 per cent over the next four years. The department’s £3bn annual spend will diminish to about £2.2bn by 2014-15, with cuts expected to fall hardest on its administrative costs and network of quangos. Overall the number of arm’s-length bodies supported by the department will fall from 92 …