George Osborne calls emergency July budget to reveal next wave of austerity

Chancellor promises a 'budget for working people', which will also spell out how the Conservatives will cut 12bn from Britain's welfare bill

George Osborne will reveal how the government plans to cut 12bn from Britain's welfare bill when he announces a fresh wave of austerity measures in his second budget in less than four months on 8 July. The chancellor said he wanted to make a start delivering on the commitments made in the Conservative party manifesto and pledged that his package would be a budget for "working people".

Announcing his decision in an article in the Sun, Osborne said he would provide details of how the government plans to eliminate the UK's budget deficit - forecast to be 75bn this year - and run a surplus by the end of the parliament. "On the 8th of July I am going to take the unusual step of having a second budget of the year - because I don't want to wait to turn the promises we made in the election into a reality " And I can tell you it will be a budget for working people."