The Independent reports Osborne’s comments that he will make in a speech later today at the Birmingham Chamber of Commerce.
Osborne will argue that Britons have to confront “uncomfortable truths” such as the need to save for a deposit before buying a property.
He is also due to announce new proposals to reform the corporation tax system so that businesses are no longer encouraged to get deeper and deeper into debt, the newspaper claims.
He will say: “It means telling people that they can’t rely on massive increases in house prices to fund their retirement, and that they will have to save for a deposit to buy their own home.
“It means pointing out that increasing profits through ever-higher debts is not a sustainable way to build a business.”