UK Summer Budget 2015(01 of25)
Open Image ModalLONDON, UNITED KINGDOM - JULY 08: Chancellor of the Exchequer George Osborne (C) poses for photographers outside 11 Downing Street in London, England before presenting his summer budget to Parliament on July 8, 2015. (Photo by Tolga Akmen/Anadolu Agency/Getty Images) (credit:Anadolu Agency via Getty Images)
The First Conservative Budget Since The Election(02 of25)
Open Image ModalLONDON, ENGLAND - JULY 08: The Chancellor of the Exchequer George Osborne (2nd R) and his treasury team Greg Hands, David Gauke, Damian Hinds, Harriet Baldwin and Lord O'Neill of Gatley present the ministerial red box up to the media as he leaves 11 Downing Street on July 8, 2015 in London, England. The Chancellor is presenting his summer budget today to Parliament and is expected to announce £12 billion in welfare cuts. (Photo by Stuart C. Wilson/Getty Images) (credit:Stuart C. Wilson via Getty Images)
Chancellor Of The Exchequer George Osborne Presents Tory-Majority Government U.K. Budget(03 of25)
Open Image ModalGeorge Osborne, U.K. chancellor of the exchequer, holds the dispatch box containing the first budget by a Tory-majority government in almost two decades, outside 11 Downing Street in London, U.K., on Wednesday, July 8, 2015. Osborne, whose election campaign played heavily on Tory values of economic prudence and the need for more austerity to eliminate the budget deficit, will draw on his newly granted authority to press ahead with plans to slash a further 12 billion pounds ($19 billion) from welfare costs. Photographer: Jason Alden/Bloomberg via Getty Images (credit:Bloomberg via Getty Images)
The First Conservative Budget Since The Election(04 of25)
Open Image ModalLONDON, ENGLAND - JULY 08: The Chancellor of the Exchequer George Osborne holds his ministerial red box up to the media as he leaves 11 Downing Street on July 8, 2015 in London, England. The Chancellor is presenting his summer budget today to Parliament and is expected to announce £12 billion in welfare cuts. (Photo by Peter Macdiarmid/Getty Images) (credit:Peter Macdiarmid via Getty Images)
BRITAIN-BUDGET-POLITICS-ECONOMY-GROWTH(05 of25)
Open Image ModalBritish Chancellor of the Exchequer, George Osborne holds up the Budget Box as he poses for photographs with his ministerial team outside 11 Downing Street in central London, on July 8, 2015, before unveiling the government's budget to parliament. British finance minister George Osborne will announce austerity cuts in the budget on Wednesday, although the first all-Conservative budget for 20 years is expected to be less harsh than previously feared. AFP PHOTO / BEN STANSALL (Photo credit should read BEN STANSALL/AFP/Getty Images) (credit:BEN STANSALL via Getty Images)
UK Summer Budget 2015(06 of25)
Open Image ModalLONDON, UNITED KINGDOM - JULY 08: Chancellor of the Exchequer George Osborne (C) poses for photographers outside 11 Downing Street in London, England before presenting his summer budget to Parliament on July 8, 2015. (Photo by Tolga Akmen/Anadolu Agency/Getty Images) (credit:Anadolu Agency via Getty Images)
UK Summer Budget 2015(07 of25)
Open Image ModalLONDON, UNITED KINGDOM - JULY 08: Chancellor of the Exchequer George Osborne (2nd L) poses for photographers outside 11 Downing Street in London, England before presenting his summer budget to Parliament on July 8, 2015. (Photo by Tolga Akmen/Anadolu Agency/Getty Images) (credit:Anadolu Agency via Getty Images)
Summer Budget 2015(08 of25)
Open Image ModalPrime Minister David Cameron congratulates Chancellor of the Exchequer George Osborne after he delivered his Budget statement to the House of Commons, London. (credit:PA/PA Wire)
Summer Budget 2015(09 of25)
Open Image ModalConservative MPs wave their order papers after Chancellor of the Exchequer George Osborne delivered his Budget statement to the House of Commons, London. (credit:PA/PA Wire)
Summer Budget 2015(10 of25)
Open Image ModalWorks and Pensions Secretary Iain Duncan Smith as he listens to Chancellor of the Exchequer George Osborne deliver his Budget statement to the House of Commons, London. (credit:PA/PA Wire)
Summer Budget 2015(11 of25)
Open Image ModalChancellor of the Exchequer George Osborne deliver his Budget statement to the House of Commons, London. (credit:PA/PA Wire)
Summer Budget 2015(12 of25)
Open Image ModalChancellor of the Exchequer George Osborne delivers his Budget statement to the House of Commons, London. (credit:PA/PA Wire)
Anti-Austerity Protests After The Summer Budget(13 of25)
Open Image ModalLONDON, ENGLAND - JULY 08: Protesters gather outside the Houses of Parliament as the Chancellor of the Exchequer George Osborne delivers his Budget to the house on July 8, 2015 in London, England. The Chancellor presented his summer budget to Parliament today, announcing £12 billion in welfare cuts. (Photo by Dan Kitwood/Getty Images) (credit:Dan Kitwood via Getty Images)
Anti-Austerity Protests After The Summer Budget(14 of25)
Open Image ModalLONDON, ENGLAND - JULY 08: Protesters gather outside the Houses of Parliament as the Chancellor of the Exchequer George Osborne delivers his Budget to the house on July 8, 2015 in London, England. The Chancellor presented his summer budget to Parliament today, announcing £12 billion in welfare cuts. (Photo by Dan Kitwood/Getty Images) (credit:Dan Kitwood via Getty Images)
The First Conservative Budget Since The Election(15 of25)
Open Image ModalLONDON, ENGLAND - JULY 08: Secretary of State for Energy and Climate Change Amber Rudd (L) departs 10 Downing street prior to The Chancellor of the Exchequer George Osborne presenting his ministerial red box to the media on July 8, 2015 in London, England. The Chancellor is presenting his summer budget today to Parliament and is expected to announce £12 billion in welfare cuts. (Photo by Stuart C. Wilson/Getty Images) (credit:Stuart C. Wilson via Getty Images)
The First Conservative Budget Since The Election(16 of25)
Open Image ModalLONDON, ENGLAND - JULY 08: Chancellor of the Exchequer George Osborne leads his Treasury team (from left) Commercial Secretary to the Treasury Lord ONeill of Gatley, Exchequer Secretary to the Treasury Damien Hinds, Financial Secretary to the Treasury David Gauke, City Minister Harriett Baldwin and Chief Secretary to the Secretary Greg Hands out of No11 Downing Street in London today to deliver his first budget of the new Conservative governmenton July 8, 2015 in London, England. The Chancellor is presenting his summer budget today to Parliament and is expected to announce £12 billion in welfare cuts. (Photo by Stefan Rousseau - WPA Pool /Getty Images) (credit:WPA Pool via Getty Images)
UK Summer Budget 2015(17 of25)
Open Image ModalLONDON, UNITED KINGDOM - JULY 08: Chancellor of the Exchequer George Osborne is seen outside 11 Downing Street in London, England before presenting his summer budget to Parliament on July 8, 2015. (Photo by Tolga Akmen/Anadolu Agency/Getty Images) (credit:Anadolu Agency via Getty Images)
The First Conservative Budget Since The Election(18 of25)
Open Image ModalLONDON, ENGLAND - JULY 08: Chancellor of the Exchequer George Osborne leads his Treasury team (from left) Commercial Secretary to the Treasury Lord ONeill of Gatley, Exchequer Secretary to the Treasury Damien Hinds, Financial Secretary to the Treasury David Gauke, City Minister Harriett Baldwin and Chief Secretary to the Secretary Greg Hands out of No11 Downing Street in London today to deliver his first budget of the new Conservative governmenton July 8, 2015 in London, England. The Chancellor is presenting his summer budget today to Parliament and is expected to announce £12 billion in welfare cuts. (Photo by Stefan Rousseau - WPA Pool /Getty Images) (credit:WPA Pool via Getty Images)
BRITAIN-BUDGET-POLITICS-ECONOMY-GROWTH(19 of25)
Open Image ModalPolice stand guard at the entrance to Downing Street in central London, on July 8, 2015, following a protest. British finance minister George Osborne will announce austerity cuts in the budget on Wednesday, although the first all-Conservative budget for 20 years is expected to be less harsh than previously feared. AFP PHOTO / BEN STANSALL (Photo credit should read BEN STANSALL/AFP/Getty Images) (credit:BEN STANSALL via Getty Images)
The First Conservative Budget Since The Election(20 of25)
Open Image ModalLONDON, ENGLAND - JULY 08: Chancellor of the Exchequer George Osborne leads his Treasury team (from left) Commercial Secretary to the Treasury Lord ONeill of Gatley, Exchequer Secretary to the Treasury Damien Hinds, Financial Secretary to the Treasury David Gauke, City Minister Harriett Baldwin and Chief Secretary to the Secretary Greg Hands out of No11 Downing Street in London today to deliver his first budget of the new Conservative governmenton July 8, 2015 in London, England. The Chancellor is presenting his summer budget today to Parliament and is expected to announce £12 billion in welfare cuts. (Photo by Stefan Rousseau - WPA Pool /Getty Images) (credit:WPA Pool via Getty Images)
Summer Budget 2015(21 of25)
Open Image ModalProtesters against the budget and the government's public spending cuts demonstrate outside the Houses of Parliament in London today. (credit:Stefan Rousseau/PA Wire)
Summer Budget 2015(22 of25)
Open Image ModalProtesters against the budget and the government's public spending cuts demonstrate outside the Houses of Parliament in London today. (credit:Stefan Rousseau/PA Wire)
Summer Budget 2015(23 of25)
Open Image ModalProtesters against the budget and the government's public spending cuts demonstrate outside the Houses of Parliament in London today. (credit:Stefan Rousseau/PA Wire)
The First Conservative Budget Since The Election(24 of25)
Open Image ModalLONDON, ENGLAND - JULY 08: Home secretary Theresa May departs 10 Downing street prior to The Chancellor of the Exchequer George Osborne holding his ministerial red box up to the media on July 8, 2015 in London, England. The Chancellor is presenting his summer budget today to Parliament and is expected to announce £12 billion in welfare cuts. (Photo by Stuart C. Wilson/Getty Images) (credit:Stuart C. Wilson via Getty Images)
Summer Budget 2015(25 of25)
Open Image ModalProtesters against the budget and the government's public spending cuts demonstrate outside the Houses of Parliament in London today. (credit:Stefan Rousseau/PA Wire)