Chancellor makes clear he is not abandoning his overall approach to eliminate structural budget deficit two years before 2020 election
George Osborne has warned that he will continue to take “difficult decisions” after he embarked on a spectacular U-turn on his planned tax credits cuts and to spare frontline policing from severe austerity.
The chancellor said he would continue to lop day-to-day government spending and the welfare budget as he seeks to adopt an “inherently cautious approach” to deliver an overall budget surplus of £10.1bn by 2019-20.
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Source: theguardian.com