Welfare Reforms Will Take £3 billion From Poorest UK Families, Labour Warns

‘The Labour party has seized on new costings of George Osborne’s welfare reforms to argue that he still plans to take £3bn a year out of the pockets of Britain’s poorest families, despite reversing his controversial tax credit cuts.

Analysis from the independent Office for Budget Responsibility, published on Friday, suggested the changes to universal credit announced in the July budget will save the chancellor close to £3bn by 2019-20.

“Labour warned last week that George Osborne’s U-turn on tax credits might not be all it seemed and today’s report from the OBR shows it was a total con job,” said Owen Smith, Labour’s shadow work and pensions secretary.’

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