The Chancellor has blamed the previous Labour government for the continuing deficit problems.
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."
Speaking on the first day of the Tory party conference David Cameron rejected plans for a 'mansion tax' and signalled further budget cuts.
As the Conservative Party Conference begins David Cameron has already ruled out the controversial 'mansion tax' plans.
David Cameron today will pledge to use Britain's veto to block the European Union budget if it is not in the UK interest.