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Autumn Statement: George Osborne should defer the surplus, and make pensioners pay  

The Chancellor will need to eat humble pie if he wants to balance the budget

By George Magnus  

George Osborne has won trust by moving to the centre ground © PA/PA Wire/Press Association Images

The Chancellor’s Autumn Statement, due on Wednesday, was always going to be the centre of attention. He has to show where roughly £24bn of unprotected departmental spending cuts will fall during this parliament, along with £12bn of welfare savings. While events and the House of Lords have not been kind to the Chancellor, he has fallen into a trap, entirely of his and…

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