Osborne Displays Ambition in Police Move, Tax-Credit U-Turn

Updated on
  • Treasury maintains goal for 12 billion-pound welfare cuts
  • Chancellor protects funding for police and boosts pensions

George Osborne.

Photographer: Emmanuel Dunand/AFP/Getty Images

U.K. Chancellor of the Exchequer George Osborne reversed plans to cut income top-ups for people on low pay and spared the police from budget reductions in a speech as political as it was economic as he sought to recoup his standing as Prime Minister David Cameron’s favored successor.

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