Osborne looks set to miss budget target for 2015/16

Chancellor George Osborne is on the verge of missing his target for cutting the budget deficit in the current financial year, official data showed on Tuesday. Osborne, who is under fire for proposing cuts to disability welfare payments last week as part of his push to fix the public finances, is aiming to bring the budget deficit down to 72.2 billion pounds in the 2015/16 financial year. To meet the target, borrowing in March would have to fall to its lowest March level since 2004, the ONS said.