IFS calls on clarity from George Osborne on welfare cuts

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The Institute for Fiscal Studies, the IFS, have called on George Osborne, the Chancellor of the Exchequer, to clarify where the £12 billion of welfare cuts will come from.

In a speech made today on the budget Paul Johnson, the Director of the IFS, said:

“It is now almost two years since he announced his intention of cutting welfare spending by £12 billion. Since then the main announcement has been the plan not to cut anything from the main pensioner benefits. We have been told about no more than £2 billion of the planned cuts to working age benefits. And remember apparently the “plan” is to have those £12 billion of cuts in place by 2017-18. It is time we knew more about what they might actually involve.”

A spokesman for George Osborne said that further details on the projected savings on benefits would be announced before the General Election as part of the Conservative Party’s manifesto.