Chancellor has ‘wriggle room’ and is likely to exhaust Treasury cash to lessen impact of cuts,says senior government sourceGeorge Osborne is prepared to dig deep into the Treasury’s coffers to resolve a standoff with the House of Lords over his proposed cuts to tax credits.
As a growing number of ministers warn in private that the government has been damaged by its apparent insensitivity to low-paid workers, the chancellor embarked on the first stages of a change of tack.
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Source: theguardian.com