Ed Balls christens Chancellor 'Bungle'

Shadow Chancellor Ed Balls is attacking the Chancellor for "failed tests" and "broken promises". He added: "His friends call him George, the President calls him Jeffrey... but to everyone else he’s just Bungle."

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Osborne curbs welfare benefits

The newly unemployed will have to wait at least seven days before they are able to sign on, under a series of changes to welfare benefits announced by the Chancellor. A new welfare cap will be set from 2015 and OAP expats face losing fuel payments.