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UK's Osborne cuts spending, taxes sugar

Wednesday, March 16, 2016 - 01:23

UK Finance Minister George Osborne says he will cut public spending further as he misses his targets for bringing down national debt, in a budget dominated by reductions in GDP forecasts and the implementation of a tax on sugar.

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(ROUGH CUT ONLY - NO REPORTER NARRATION) UK Finance Minister George Osborne says he will cut public spending further as he misses his targets for bringing down national debt, in a budget dominated by reductions in GDP forecasts and the implementation of a tax on sugar. Osborne, whose chances of becoming prime minister are tied to the fortunes of the economy, blamed the slowdown in the global economy and weak productivity growth at home. Delivering an annual budget statement to parliament, Osborne said the outlook for the economy would be worse if Britons voted to leave the European Union in a referendum in June.

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UK's Osborne cuts spending, taxes sugar

Wednesday, March 16, 2016 - 01:23