Osborne sticks to deficit plan despite 'dangerous cocktail of risks'


George Osborne has insisted there will be no backing away from plans to wipe out the deficit despite "headwinds" in the global economy.

Delivering what is expected to be one of his tightest Budgets yet, the Chancellor said Britain was benefiting because the government had "stuck to the task".

Warning of a "dangerous cocktail of risks" worldwide, Mr Osborne told MPs the UK was "well placed prepared to handle" the issues "if we act now so we don't pay later".