UK's Osborne sticks to budget target, scraps cuts to tax credits

November 25, 2015 1:25 PM

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UK's Osborne sticks to budget target, scraps cuts to tax credits

LONDON British finance minister George Osborne surprised his critics by sticking with his budget surplus target for the end of the decade, even as he abandoned a controversial plan to make big savings in one part of the welfare budget.

Osborne told parliament on Wednesday that he was aiming for a surplus of 10.1 billion pounds by the 2019/20 financial year, slightly higher than a previous target announced in July.

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