Playing with the widget in the Financial Times, which invites us to choose where the axe will fall, and reflects the impact that will have.
Here are my choices, unconstrained by ConDem commitments on DFiD and NHS, but with a commitment to faster deficit reduction and abandonment of NI rises. No mention of the option to increase VAT to 20% I note. Anyway, here are my choices, which have yielded a saving of £54.4bn.
Click image to enlarge
The narrative that this selection generates is one of extensive strikes. Good.
So we provoke the public sector to strike, we sit and wait, watch and laugh, manage just fine without them, and pocket a huge in-year saving from not paying brazier-bound berkinalds. This is an extra saving I don’t think the FT have factored in.
AJ
Al Jahom's Final Word 
What i would like to see is something like “cut all public sector pay by 10% excluding those earning less than 20k”.
Now you may argue that instead of 20k it should be 18k or 25k etc.
Assuming this would actually cut a decent amount of money, the advantage of this is twofold. If you only target those earning over a certain wage, it makes public support for strikes much less likely. It also acknoledges that not all public servants are overpaid, and it could be seen as support for those workers, again making it harder for the unions to wave their dicks about.