Osborne wants UK to kick its 'debt addiction'.
Although the Tories still hold an opinion poll lead, they were behind Labour when voters were asked which party they believed would handle the economy better.
Speaking to the Echo after addressing party supporters and members of the business community at Cardiff City Hall, Mr Osborne said: "What we need to do is help people now who are the victims of the recession - and those are people who are losing their jobs.
"But there are also pensioners and savers who have seen their incomes decimated.
"We need to put the economy on a sustainable level by kicking this addiction to debt and start saving again.
"In the short term, what we're talking about is tax relief, abolishing income tax for savers at the basic rate and increasing the personal allowances of pensioners.
"This would help their income. They're spending their income, but their income has been decimated."