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Chancellor George Osborne will announce increased spending on housing on Wednesday, saying the government will support private developers and local authorities to encourage the construction of around 400,000 new homes. The announcement is part of Osborne's broader plans for government spending which he is due to unveil later in the day. The spending review will detail four more years of deep spending cuts in other areas of public spending.
By William Schomberg LONDON (Reuters) - Chancellor George Osborne will renew his push to fix the country's public finances on Wednesday, taking a gamble that voters can accept four more years of deep spending cuts. Osborne, a contender to succeed David Cameron as prime minister, is expected to tell parliament he is still aiming for a budget surplus by the end of the decade, which could allow him to deliver income tax cuts promised before May's election. Osborne has largely stuck to his guns and cut spending in many areas of government in order to bring down the huge deficit he inherited in 2010.