Osborne: I Will Lessen Tax Credit Cuts Blow

The Chancellor has said he will continue to reform tax credits but indicates he will soften the blow of the cuts on families. Speaking in the House of Commons following the double defeat on his tax credit changes at the hands of peers in the upper chamber last night, George Osborne said he would lessen the impact of the cuts in the transition. Mr Osborne said: "We will continue to reform tax credits and save the money needed so that Britain lives within its means, while at the same time lessenin