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Britain's Chancellor of the Exchequer Rachel Reeves attends the China-UK Financial Services Summit, at the Diaoyutai State Guesthouse in Beijing, China January 11, 2025. REUTERS/Florence Lo.
British finance minister Rachel Reeves said on Wednesday the Office for Budget Responsibility estimated the government's welfare cuts would save 3.4 billion pounds ($4.4 billion).
Earlier this month, Liz Kendall, work and pensions minister, said the government planned to cut 5 billion pounds from the support give to people with disabilities and long-term health conditions to try to tame a sharply rising welfare bill.
"Overall, these plans mean that welfare spending as a share of GDP will fall between 2026-27 and the end of the forecast period," she told parliament.
($1 = 0.7753 pounds)
(Reporting by David Milliken; Editing by Conor Humphries)
