Osborne: 'We'll have no truck with mansion tax'

During his speech at the Conservative party conference the Chancellor has ruled out any 'mansion tax', a policy their coalition partners wanted to see to tax the better off.

Mr Osborne said; "It would be sold as a mansion tax, but once the tax inspector has his foot in the door you'd soon find most of the homes in the country labelled a mansion. It's not a mansion tax it's a home tax and this party of home ownership will have no truck with it."

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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.