Osborne defends 50p tax rate decision

The Chancellor has defended his decision to get rid of the 50p tax rate, saying:

"Those with the most should contribute the most. But it is a completely phoney conception of fairness that you stick with a tax rate that you know raises no money, that you know drives away jobs and investment that you know weakens the economy - just to say you've kicked the rich."

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Osborne's £10bn benefits cut

The Government is to press ahead with plans to slash an extra £10 billion from the welfare budget by 2016-17, the Chancellor has said in his speech to the Conservative party conference.