Hard-working families must not be hit with tax hikes to tackle the financial deficit, an MP has warned.

Philip Davies said the black hole should instead be tackled by spending reductions. Speaking in Treasury Questions, the Shipley MP called for assurances from Chancellor George Osborne.

He said: “The last government left us in financial ruin, not through taxing us too little but by spending too much. The solution to that problem is to reduce spending to affordable levels. Will he therefore guarantee to plug the remainder of the deficit through spending reductions?”