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Osborne unveiling cuts proposals Osborne unveils pay and tax plans
(18 minutes later)
Shadow chancellor George Osborne has unveiled tough proposals to tackle Britain's debts - including a public sector pay freeze in 2011. Shadow chancellor George Osborne has unveiled proposals to tackle Britain's debts - including a public sector pay freeze in 2011.
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 told the Conservative conference in Manchester that only frontline soldiers and people on less than £18,000 a year would still get rises.
He said the freeze would help protect jobs and stressed the whole country was "in it together". He said the freeze would help protect jobs and repeatedly stressed the whole country was "in this together".
And he warned bankers he may tax bonuses if they were excessive. And he warned bankers he may tax their bonuses if they were deemed 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. Pension cap
He also proposed curbs on "excessive salaries at the top of Whitehall". Mr Osborne said he wanted to be straight with voters about the scale of cuts needed and repeatedly said that the better-off must take their share of the pain.
He said he could not think of abolishing Labour's new 50% tax rate on the rich "while at the same time I am asking many of our public sector workers to accept a pay freeze to protect their jobs".
In a series of measures that are likely to form the backbone of the Conservative election manifesto, Mr Osborne proposed a freeze on the pay of government ministers and curbs on "excessive salaries at the top of Whitehall".
TORY CONFERENCE TWEETS
Twitter: @BBCLauraK
To clarify-public workers over 18k pay freeze,cuts to child trust fund + tax credits,and later retirement- members delighted in hall #cpc09 7 minutes ago Osborne making big pitch on being honest with the public 'we are all in this together' #cpc09 32 minutes ago cuts to child trust funds,and tax credits-osborne's audience clapping those ideas #cpc09 35 minutes ago osborne-we respect public sector workers but all on less than 18 grand to have pay frozen apart from military #cpc09 41 minutes ago big cheer for getting rid of regional assemblies-tories would cut cost of whitehall by a third #cpc09 47 minutes ago What is this?
Any new public employee with a salary greater than the level of the prime minister would 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. And he said the time had come to "find ways to impose a £50,000 annual cap on the size of public sector pension payouts".
He also vowed to cut the cost of Whitehall - proposing to slash departmental 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.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.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.
Mr Osborne also confirmed plans revealed on Monday to bring forward a rise in the age at which people can claim a state pension.
Explaining the need for the tough package of measures, he said: "These are the honest choices in the world in which we live and we have made them today.
"Anyone who tells you these choices can be avoided in not telling you the truth. We are all in this together."