Brexit: George Osborne says tax rises and spending cuts needed

June 28, 2016 7:39 AM

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Brexit: George Osborne says tax rises and spending cuts needed

Tax rises and spending cuts will be needed to deal with the "shock" to the UK economy caused by leaving the EU, Chancellor George Osborne has said.

He said such decisions would be taken by the next prime minister, adding that his pre-referendum warnings "have started to be borne out by events".

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