Chancellor George Osborne has defended the newly announced Budget saying that cuts were “unavoidable” in order to tackle the UK’s debt problems and that the new Budget was “tough but fair”.

The new Budget has already seen some backlash as Labour MPs called it “reckless” and said that it would stifle growth. Acting labour leader Harriet Harman said that the new Budget will hit "those who can least afford it" hard.

Some of the Budget announcements yesterday include a rise in VAT to 20%, a freeze on child benefit and public sector pay for two years and the loss of tax credits.

Mr Osborne said: "The damage to the economy, the people losing their jobs, will come if we do not sort out our problems in this country, and the welfare bills have got out of control,"

He added: "The hole in the public finances was so great and the debts were so large, and people at home know, if you have got a debt problem, you have got to deal with it."

Mr. Osborne said that the planned changes meant that everyone would be contributing to try and reduce the UK’s deficit.
He said: "Everyone will pay something but the people at the bottom of the income scale will pay proportionately less than those at the top. This is a progressive Budget,"

The Budget was not well received by Labour representatives who jeered the Chancellor’s announcements, however, he laid the blame for the harsh hikes and cuts on the previous government saying; "The years of debt and spending make this unavoidable."