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London – Former British finance minister George Osborne warned the ruling Conservative Party they must not try to compete with the opposition Labour Party by committing to large increases in government spending ahead of the next election;

The government announced an end to Britain’s long spending squeeze with tax cuts for households and the easing of some welfare curbs for poorer working families this week; and

Labour, led by socialist Jeremy Corbyn, has won over many voters with his promises to renationalise services and increase public spending, is neck-and-neck with the Conservatives in opinion polls, meaning they could form the next government. –