Osborne's budget surplus pledge

The Chancellor has raised the possibility of tax cuts by vowing to keep cutting public spending to create a budget surplus in the next parliament. He also announced the long-term unemployed face earning their benefits through unpaid community work.

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Osborne to toast 'Our Maggie' with conference speech

Chancellor George Osborne told Daybreak he may toast his speech to the Conservative Party conference today with a bottle of beer brewed in honour of former leader Margaret Thatcher.

The conference in Manchester was opened with a video tribute to Baroness Thatcher, who died in April.

Former Tory Prime Minister Margaret Thatcher is being remembered at the party conference in a variety of ways. Credit: Phil Noble/PA Wire/Press Association Images

Mr Osborne said: "This is the year in which she died and she was probably this country's greatest peacetime Prime Minister.

"This is an opportunity for the party she led as Britain's first woman Prime Minister to pay tribute to her memory."

Asked if he had tried a pint of "Our Maggie", the Chancellor answered, "I haven't had a chance yet, but maybe after I have delivered my speech I will have a pint."

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