Chancellor Osborne reduces pace of cuts, sees faster growth

March 18, 2015 1:50 PM

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LONDON (Reuters) - British Chancellor George Osborne lowered his target for a future budget surplus and announced higher economic growth forecasts as he sought to show voters that the country's recovery is entrenched.

Osborne, in his annual budget statement to parliament on Wednesday, said he was aiming for a sharply lower budget surplus by the end of the decade than the target he announced just over three months ago.

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