Autumn Statement 2013: Total cap on Welfare spending

clock

The Government has announced the introduction of a cap on total welfare spending.

Chancellor George Osborne has announced.In today's Autumn Statement, that a cap would be introduced, to be set by the Chancellor at the start of each parliament to control welfare spending.

This includes the requirement for a vote in the House of Commons if the cap is breached or if the government wants to change the level of the cap.

State pensions and job seekers allowance are to be excluded from the cap.

Osborne said: "If the state pension pension was included in a cap it could mean we had to cut pensions for people who have worked hard all their life because housing benefit for young people had got out of control, and that would be unfair."

The Chancellor also said current pensioners would be allowed to make voluntary contributions to National Insurance, while in receipt of the state pension.

He said this would allow those who fall short of qualifying for the flat-rate state pension to increase their years of contributions.

 

More on Regulation

IPT at record £4.54bn in H1 FY25/26

IPT at record £4.54bn in H1 FY25/26

Up £39m year on year

Cameron Roberts
clock 21 October 2025 • 2 min read
IHT tax haul up to £4.4bn FY25/26

IHT tax haul up to £4.4bn FY25/26

IHT revenue on track for ‘another record-breaking year’

Jenna Brown
clock 21 October 2025 • 3 min read
The COVER Review: Consumer Duty changes, a new protection club and healthcare updates

The COVER Review: Consumer Duty changes, a new protection club and healthcare updates

Week commencing 29 September 2025

COVER
clock 03 October 2025 • 1 min read

Highlights

COVER Survey: Advisers damning of protection insurer service levels

COVER Survey: Advisers damning of protection insurer service levels

"It takes longer than ever to get underwriting terms"

John Brazier
clock 12 October 2023 • 5 min read
Online reviews trump price for young people selecting life and health cover

Online reviews trump price for young people selecting life and health cover

According to latest ReMark report

John Brazier
clock 11 October 2023 • 2 min read
ABI members with staff neurodiversity policy nearly doubles

ABI members with staff neurodiversity policy nearly doubles

Women within executive teams have grown to 32%

Jaskeet Briah
clock 10 October 2023 • 3 min read