Chancellor Osborne unveils further plans to solve deficit
Chancellor George Osborne has vowed to cut another £10bn from the benefits budget, in an effort to combat the government’s deficit.
Speaking at the Conservative Party Conference, he announced several plans that the government was considering.
One scheme he suggested was limiting the number of children that can be supported on benefits. He hopes this will make claimants be more socially conscious before planning to have more children that will have to be supported by the state.
Though the Chancellor said that taxes on the rich will be increased, he said that the country’s economic future should not be gambled on the bank accounts of the wealthy.
He said, “Just as we should never balance the budget on the backs of the poor, it's a delusion to say we can balance it on the wallets of the rich.”
Osborne also unveiled new plans that will exchange workers’ employment rights for shares in their employers’ companies.
The new scheme will give bosses the ability to award company shares of up to £50,000 in return for workers giving up their unfair dismissal, redundancy, and training rights.
Osborne was keen to lay the blame of the economic mire on the previous Labour government. He said that the economy was healing, but that the problem was greater than he first thought.
He said, “Healing is taking longer than we hoped, because the damage was greater than we feared.”