George Osborne - Treasury Select Committee - smirk wiped from face

The smirk wiped from Chancellor George (Gideon) Osborne's face when appearing before the Treasury select committee on 4th November 2010.

Osborne was accused of "misleading the public" for claiming the UK was near bankruptcy in the weeks after he took office.

He was asked how the cuts would impact on him personally. Osborne, member of the Bullingdon Club, heir to the baronetcy of Ballentaylor, benefits from a trust fund established by his father. The trust is held abroad to avoid UK tax. It's worth an estimated £4m.

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