UK George Osborne, the shadow chancellor, outlined plans on Tuesday to keep a future Tory government on a strict path to cutting the £178bn ($284bn) deficit, including the creation of a new three-person “budget responsibility committee” to police his plans.
Mr Osborne’s proposal to set up an independent fiscal watchdog comes amid tensions between Gordon Brown and Alistair Darling over the pace with which a future Labour administration would cut the deficit.
