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Repeatedly borrowing more is not a long-term solution to rising day-to-day spending pressures.

An exclusive Park Lane address owned by the Fayed family is at the centre of an eight-year dispute.

The economy contracted in May for the second month in a row, adding to pressure on the chancellor.

There had been reports in recent weeks that the chancellor was going to cut the £20,000 limit.

The heritage and conservation charity says it is under "sustained cost pressures" and is looking to save £26m.