By William James LONDON (Reuters) - British finance minister George Osborne unveiled a new round of spending cuts on Wednesday, but promised to pump some of the savings straight back into the economy to counter charges of excessive austerity. In a speech to parliament interrupted by periodic jibes from opposition Labour party lawmakers, Osborne spelled out 11.5 billion pounds ($17.8 billion) in cuts for the 2015/16 fiscal year. Local government budgets were among those hardest hit, while 3 billion pounds was earmarked for spending on affordable housing projects. ...
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