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Page last updated at 14:08 GMT, Wednesday, 9 December 2009

George Osborne: Never trust Labour again

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Shadow chancellor George Osborne has accused Alistair Darling of ducking tough decisions on spending, and said Labour should never be trusted with people's money again.

It followed a pre-Budget report in which the Chancellor confirmed plans for a 50% windfall tax on bank bonuses.

He raised borrowing forecasts for this year and next, and announced a 1% cap on public sector pay for two years from 2011.

All National Insurance rates will rise by an another half of one per cent in 2011.

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