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‘British govt. to double cuts in emergency budget’

Sunday, 05 July 2015 3:24 PM [ Last Update: Sunday, 05 July 2015 3:25 PM ]

A new report says the British government will double the amount of austerity cuts in its “emergency budget.”

The cuts will affect housing benefits, reduce the state’s welfare cap further and also impact in-work tax credits.

UK treasury chief George Osborne prepares to fillet Britain’s welfare state in his “emergency budget” next week, RT reported.

Now Rodney Shakespeare, professor of economics in London, says, “We are looking at probably 12 billion pounds worth of welfare cuts.”

He also called the planned cuts “immoral.”

According to RT, in terms of slashed tax credits, child tax credits are expected to be hit the most. Ministers are also considering making those who claim housing benefit pay for a proportion of their rental costs.

At present, housing benefit covers the full cost of tenants’ rent, but could be slashed so they must cover at least 10 percent of these costs themselves, the report added.

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