The £12 billion of welfare cuts promised by the Conservatives at the general election "will be delivered in full", Chancellor George Osborne has said.
He said the cuts would be "delivered in a way that helps families as we make the transition to our new National Living Wage."
He sticks to his £12bn of welfare savings. So that means the tax credit mitigation will be coming from elsewhere (& it won't be pensions)
George Osborne has managed to get what he wanted - less generous welfare payments and a clear incentive to encourage people back into work.
After the shadow chancellor's stunt, Labour's Chuka Umunna tells ITV News: "I generally don't quote Communist leaders."
By 2020 millions of students who got a loan post-2012 will be paying more money back quicker.