Spending cuts not enough: middle class tax is needed

Updated
Osborne announces spending cuts
Osborne announces spending cuts

A leading think tank has warned that George Osborne is not going to be able to cut the deficit to meet his targets by simply slashing spending. At a presentation in London, it outlined the reasons why taxes are going to have to go up too - and why the middle classes are going to bear the brunt of these rises.

So will it hurt you?
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