Welfare spending over the course of this Parliament has
fallen by just £2.5bn despite reforms aimed at saving £19bn. The Institute for
Fiscal Studies (IFS) said the reasons included a rise in the cost of pensioner
benefits, and an increase in housing benefit spend. It said Chancellor George Osborne could need
to make more spending cuts "just to stay on track". The Treasury said
its plan was "securing a resilient economy". The IFS said changes to
benefits and tax credits had been expected to save £19bn compared with "a
world of no policy change". Read more on the IFS website.
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