George Osborne refuses to loosen Tory deficit reduction policy

CHANCELLOR George Osborne ruled out unfunded tax cuts or increases in public spending today, warning: “You can’t borrow your way out of debt.”
Speaking to the Conservative Party conference in Manchester, Mr Osborne rejected calls to loosen his deficit reduction policy, warning that even a few billion pounds worth of additional spending would put at risk Britain’s credibility on the international markets and force up interest rates.
The warning came as the Chancellor announced an 800 million one-year council tax freeze for England, a 200 million boost for science

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