George Osborne has said that dealing with deficit cannot be left solely to taxing the rich, but must also include welfare reform as answered questioned on Sky News about the 'mansion tax' he and David Cameron have today rules out:
The richest in out society have to contribute most to dealing with these problems of debt and deficit, but we're equally clear that frankly you can't ignore a welfare system where it has paid people, in some cases, to not work rather than to work.
So we're also addressing the welfare system and frankly you're not a serious contributor to the debate about how to deal with debt and deficit if you think it can be exclusively done through taxes on the rich.
We completely understand that it's got to be done across the board, looking at government spending but we're also very clear the rich will share in the greatest share of the burden of dealing with this problem.
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.