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George Osborne, the Chancellor of the Exchequer, made it clear in a speech that he intended to cut £25 billion after the next election, with about half of the savings coming from cuts in welfare payments. Nick Clegg, the Liberal Democrat Deputy Prime Minister, said that the means proposed were ‘unrealistic and unfair’ and showed that the Conservatives wanted to ‘remorselessly pare back the state for ideological reasons’.
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