Principles of spending plan: Reform, growth and fairness

The Chancellor has said there are "three principles to the Spending Round":

  • Reform: to get more from every pound we spend.
  • Growth: to give Britain the education, enterprise and economic infrastructure it needs to win the global race
  • Fairness: making sure we are all in it together by ensuring those with the broadest shoulders bear the largest burden and making sure that the unfairness of the something for nothing culture in our welfare system is changed.

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Osborne curbs welfare benefits

The newly unemployed will have to wait at least seven days before they are able to sign on, under a series of changes to welfare benefits announced by the Chancellor. A new welfare cap will be set from 2015 and OAP expats face losing fuel payments.