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In his final autumn statement before the general election next year, Britain's Chancellor George Osborne offered a reform of the tax on house purchases and pledged to crack down further on corporate tax avoidance. However headlines have since focused on his admission that borrowing will be higher than forecast, and on dire predictions that public spending will fall to levels not seen since the 1930s if the Conservatives are re-elected. Michael Stott, UK news editor, discusses the politics of the statement with George Parker, political editor.

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