Chancellor warns of £60bn of cutbacks in West Midlands speech

GEORGE Osborne used a visit to the West Midlands to warn about the harsh economic realities still facing the country and suggested that more than £60bn still needs to be trimmed from the budget deficit if Britain is to once again start paying its way in the world.

The Chancellor said the current cost of borrowing was unsustainable and that that cutbacks, especially to the welfare budget, would continue to be made well into the new Parliament.

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