Osborne vows hefty UK welfare cuts
Newly re-elected Conservative govt to cut spending by £12b out of annual budget of £220b
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London
BRITISH finance minister George Osborne has said he will press ahead with hefty cuts to welfare in a budget statement next month, a day after tens of thousands of people marched against austerity in central London.
Writing in The Sunday Times, Mr Osborne and welfare minister Iain Duncan Smith said the newly re-elected Conservative government would go ahead with plans to cut welfare spending by £12 billion (S$25.4 billion), out of an annual budget of £220 billion, including old-age pensions.
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