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Osborne unveiling cuts proposals Osborne unveiling cuts proposals
(22 minutes later)
Shadow chancellor George Osborne is unveiling a series of tough proposals to tackle Britain's budget deficit in a speech to the Tory annual conference. Shadow chancellor George Osborne has unveiled tough proposals to tackle Britain's debts - including a public sector pay freeze in 2011.
He is setting out a package of spending cuts and tax changes the Tories would introduce if they win power. He told the Conservative conference in Manchester that only frontline soldiers and people on less than £18,000 a year will still get rises.
He will stress that the whole country is in "in it together" and the rich must take their share of the pain. He said the freeze would help protect jobs and stressed the whole country was "in it together".
He has already announced proposals to raise the state retirement age, up to ten years earlier than planned. And he warned bankers he may tax bonuses if they were excessive.
In a series of measures that are likely to form the backbone of the Conservative election manifesto, Mr Osborne proposed a crackdown on the pay of government ministers, which will be frozen for the life of the Parliament.In a series of measures that are likely to form the backbone of the Conservative election manifesto, Mr Osborne proposed a crackdown on the pay of government ministers, which will be frozen for the life of the Parliament.
He also proposed curbs on "excessive salaries at the top of Whitehall".He also proposed curbs on "excessive salaries at the top of Whitehall".
Any new public employee with a salary greater than the level of the prime minister will need special permission from the Treasury. Any new public employee with a salary greater than the level of the prime minister would need special permission from the Treasury.
He also vowed to cut the cost of Whitehall - proposing to slash budgets by a third during the lifetime of Parliament.He also vowed to cut the cost of Whitehall - proposing to slash budgets by a third during the lifetime of Parliament.
Tax credits for families earning more than £50,000 a year would be ended and the child trust fund would be limited to the poorest third in society.
But child benefit will be preserved as a universal benefit and the party would not axe the winter fuel payment or free TV licences for pensioners, he said.