8th October 2012 - Business News

George Osborne in £10 billion benefit cut vow

Chancellor George Osborne will today (Monday) outline proposals to cut a further £10 billion from the benefits budget to fight the deficit.

His keynote speech at the Tory conference will set out new ideas such as removing the rise in child support benefits jobless parents receive as they have more children.

But he will rule out a levy on high-value properties sought by Lib Dems. The Tories say the Lib Dems are willing to consider the extra £10bn cuts, which would come into effect by 2016.

In his keynote address, Mr Osborne is expected to say:

“Let the message from this conference be clear: we will finish the job we have started.”

He will tell delegates that

“the economy is healing”.

“That healing is taking longer than we hoped, because the damage was greater than we feared.”

 

Source.