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Portrait of the week

Portrait of the week

11 July 2015

9:00 AM

11 July 2015

9:00 AM

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In his Budget, George Osborne, the Chancellor of the Exchequer, slowed the planned rate of bringing in £12 billion of welfare cuts. He forecast a surplus by 2020. The bank levy would be reduced but a surcharge on bank profits imposed. The total of benefits that a family can claim a year would be cut to £23,000 in London and £20,000 outside it.

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