Osborne calls for 4 billion pounds cut in welfare spending
George Osborne

The UK Chancellor Mr. George Osborne has said that the coalition government is planning for a further 4 billion pounds cut in the annual welfare spending of the country.

The chancellor will produce the details savings in the spending review of October which will include the 11 billion pounds cut made in the month of June.

But the Treasury Department says the target of savings is still to be achieved. Mr. Osborne said those people who aimed at sit on out of work benefit would be affected by the spending cuts. The Chancellor has described the welfare budget as totally out of control.

Meanwhile, the Labor has said that the plan of cut for welfare spending would hit the poor in the society including the disabled and pensioners. The cuts of 11 billion pounds of June and 4 billion pounds in this month represent almost 6% of the total welfare spending.

The Treasury Department is involved in meetings with so many ministers to discuss about the spending review of October which is expected to be the toughest one in nearly a decade. On the other hand Labor said the spending cuts system needed some modification.

Latest News

Samsung launches Galaxy S4 compatible TecTile 2 tags
Soaring gas prices surprise market watchers
Recon comes up with Google Glass-like product
Netflix and YouTube consume nearly half of US internet capacity: study
Google commemorates Atari Breakout’s 37th anniversary
New York AG wants leading mobile makers to help tackle problem of device theft
Amazon agrees to acquire Samsung's Liquavista business
Google all set to launch centralized gaming hub for Android: suggests leaked APK
Snapchat app stores users’ images
Verizon: Nokia Lumia 928 to be available from May 16
Deluged by police requests for iPhone decryption, Apple has created a “waiting l
Twitter acquires Ubalo to accelerate its back-end