The chancellor says the government will double its promised savings in Whitehall, from £3bn to £6bn.
George Osborne says that
“Redundancies are inevitable when the country has run out of money”,
Britain possesses Europe’s largest structural budget deficit at £109 billion pounds
“Public services will be replaced on a long term sustainable footing”
WELFARE BUDGET
The state pension age will reach 66 in 2020, four years earlier than planned.
This will save over £5 billion pounds a year. There has to be an increase in employee contributions.
Public service pensions should be a gold standard.
Launch a consultation on fair deal policy.
A new Universal Credit will replace benefits and tax credits over the next two parliaments.
“Work programme will provide intensive assistance for those seeking employment”.
A One year time limit will be placed on those receiving Employment Support Allowance (ESA)
Increase age threshold for housing benefit from 25 – 35
Give local authorities greater authority to control council tax
Introduce cap benefits. No family that does not works will receive more money than a family that is working.
Welfare measures will save £7 billion per year
Removal of child benefit from higher rate tax payers. There will be no other changes to child benefit.
Removing child benefit from higher rate tax payers will save 2.5 billion per year.
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