The chancellor has denied suggestions he is gambling with the economy as his raft of tax cuts were met with a hostile reception.
The Institute of Fiscal Studies (IFS) said he was "betting the house" by putting government debt on an "unsustainable rising path".
Only those with incomes of over £155,000 will be net beneficiaries of tax policies announced by the Conservatives, with the "vast majority of income taxpayers paying more tax", said the respected financial think tank in a scathing assessment of the plans.
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