Chancellor George Osborne has ruled out temporary tax cuts to stimulate the economy but announced new measures to help businesses. He promised to keep interests rates low, offer new help for small firms to access funding and make it harder for employees to launch unfair dismissal claims, in his speech at the Conservative Party Conference. But he dismissed the idea of temporary tax cuts, saying: “I’m a believer in tax cuts: permanent tax cuts, paid for by sound public finances. “Right now, temporary tax cuts or more spending are two sides of exactly the same coin - a coin that has to be borrowed. More debt that has to be paid off. “You can’t borrow your way out of debt.” Osborne added: “As part of my determination to get the economy moving I have set the Treasury to work on ways to inject money directly into parts of the economy that need it such as small businesses. “It’s known as credit easing. It’s another form of monetary activism. It’s similar to the National Loan Guarantee Scheme we talked about in opposition. “It could help prevent another credit crunch; provide a real boost to British business, and over time help solve that age old problem in Britain: not enough long term investment in small business and enterprise.” Osborne said the Government would “make it much less risky for businesses to hire people”, by doubling to two years the amount of time you can employ someone before the risk of an unfair dismissal claim, and charging a fee to take a case to tribunal. “We’re ending the one-way bet against small businesses,” the Chancellor added. Osborne said interest rates would remain low - they are currently 2.5%, compared to 20% in Greece, 10% in Portugal, and 5% in Spain and Italy - to help businesses and families.