James Forsyth

Osborne: Tories will hold emergency Budget if they win the election

Osborne: Tories will hold emergency Budget if they win the election
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George Osborne has just announced at The Spectator’s inaugural conference, Paths to Prosperity, that there will be an emergency Budget in June or July of 2010 if the Tories win the election. Osborne told Andrew Neil that the aim of this Budget would be to reduce borrowing for fiscal year 2010-11, which will already be under way at that point, and for the years thereafter. Presumably this will be done through a combination of tax rises, spending cuts and asset sales.