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

Heat Network Project Manager

The Royal Borough of Kensington & Chelsea Council
£49,916 - £57,335 per annum
You will need experience in contract management and procurement for heat networks, along with... Kensington and Chelsea, London (Greater)
Recuriter: The Royal Borough of Kensington & Chelsea Council

Personnel Services Manager

Borough Council of King's Lynn and West Norfolk
Starting salary c.£46k
We are an ambitious Council with a commitment to improving our area through delivering a range of exciting projects. King's Lynn, Norfolk
Recuriter: Borough Council of King's Lynn and West Norfolk

Short Breaks Practitioner

The Royal Borough of Kensington & Chelsea Council
£32,301 - £35,949
This is an exciting chance to join a team who are focused on delivering integrated services that will... Kensington and Chelsea, London (Greater)
Recuriter: The Royal Borough of Kensington & Chelsea Council

Benefits Officer

London Borough of Richmond upon Thames and London Borough of Wandsworth
£21,771 to £34,479 per annum
The successful candidates will need to... Wandsworth, London (Greater)
Recuriter: London Borough of Richmond upon Thames and London Borough of Wandsworth

Event Officer

Camden London Borough Council
£30,893
We are seeking a highly experienced, competent, and dynamic Event Officer with substantial event management experience to... Camden, London (Greater)
Recuriter: Camden London Borough 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