Jonathan Werran 18 March 2015

Budget 2015: Welfare cap fits £21bn savings for Osborne

Budget 2015: Welfare cap fits £21bn savings for Osborne image

The Government’s welfare cap is on track to deliver £21bn savings through changes to benefit payments and reforms to eligibility, the chancellor confirmed today.

In his Budget speech, chancellor George Osborne said the Government had legislated for £21bn welfare savings by pegging the limit on total spending on benefits – with the exception of pensions and automatic stabilisers which kick in during times of economic downturn.

He also confirmed that welfare reductions would make up £12bn of the £30bn fiscal tightening measures needed by 2017/18 – with £13bn government department reductions and a £5bn tax avoidance clampdown making up the remainder.

The full Budget document revealed independent government forecasters the Office for Budget Responsibility predict spending within the welfare cap could average £2bn lower than predicted at the time of last December’s Autumn Statement - and some £9.7bn lower over the forecast period.

But OBR forecasters also believe a number of other factors will continue to put upward pressure on the welfare budget.

Last December the OBR judged the welfare cap was met, but will next monitor progress this autumn, when the cap will cover from 2016/17 onwards.

SIGN UP
For your free daily news bulletin
Highways jobs

Senior Lawyer (Safeguarding Children)

Royal Borough of Greenwich
£45834 - £48819 per annum
Are you an experienced childcare Lawyer with local government experience and looking for variety and challenge?The jobGreenwich Legal Services is comm England, London, Woolwich
Recuriter: Royal Borough of Greenwich

Lawyer (Planning & Highways)

Royal Borough of Greenwich
£40869 - £43860 per annum
Are you a Planning & Highways Lawyer with local government experience and looking for variety and challenge?The jobGreenwich Legal Services is committ England, London, Woolwich
Recuriter: Royal Borough of Greenwich

Regeneration Projects Manager

South Gloucestershire Council
£47,778 - £52,120
This is an exciting opportunity to lead comprehensive town centre regeneration programmes, specifically for... Gloucestershire
Recuriter: South Gloucestershire Council

Senior Lawyer, Regeneration & Property

Royal Borough of Greenwich
£45834 - £48819 per annum
Are you a Senior Regeneration & Property Lawyer with local government experience and looking for variety and challenge?Royal Greenwich is proud to be England, London, Woolwich
Recuriter: Royal Borough of Greenwich

Job Evaluation & Research Officer

Birmingham City Council
£27,741 - £34,728
2 x Job Evaluation & Research Officers will be supporting the Senior Job Evaluation & Research Officer and Reward & Recognition Manager. Birmingham, West Midlands
Recuriter: Birmingham City Council

Public Property

Latest issue - Public Property News

This issue of Public Property examines how how flexible workspaces can lead the way in regeneration for local authorities, Why local authority intervention is key to successful urban regeneration schemes and if the Government’s challenge of embracing beauty is an opportunity for communities.

The March issue also takes a closer look at Blackburn with Darwen Council's first digital health hub to help people gain control over health and care services.

Register for your free digital issue