Britain will cut spending on welfare by £12 billion ($18.5 billion, 17 billion euros) in a fresh austerity drive, finance minister George Osborne announced Wednesday as he delivered the government’s post-election budget.
Chancellor of the Exchequer Osborne told parliament that the Conservative government had found “savings of £12 billion from welfare” as part of wider cuts totalling £37 billion that will come in part from clawing back tax evasion and by reducing departmental budgets over the next five years. Click to signup for FREE news updates, latest information and hottest gists everyday
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