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Cameron signals further cuts

The Conservative Party's annual conference opened in Birmingham today. David Cameron ruled out the 'mansion tax' saying this 'not going to happen.' He also signalled that additional benefit cuts would be necessary to fight the deficit.

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Osborne defends debt record

The Chancellor has blamed the previous Labour government for the continuing deficit problems.

Chancellor George Osborne earlier this year Credit: Stefan Rousseau/PA Wire

Speaking on Sky News the Chancellor said, "We are absolutely committed to dealing with Britain's debt and deficit problems and growing our economy and creating private sector jobs.

"If you don't deal with the debts then the interest rates go up that clobbers business, it hits families and it leads to the kind of mess that we inherited from the previous Government."

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