Chancellor ‘must cut extra £48B to curb deficit’

Chancellor ‘must cut extra £48B to curb deficit’

Extra spending cuts or tax rises are now required at the next spending review if Mr. Osborne is to get deficit reduction plans back on track, according to new analysis.

Research by the Social Market Foundation and the Royal Society of Arts found that the Office for Budget Responsibility’s forthcoming report on the UK economy will reveal that the black hole in the public finances is significantly larger than previously thought.

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