Tory Government's £12bn Welfare Cuts Agreed

Welfare cuts worth £12bn a year will be announced in next month's Budget, after the Government agreed "significant" spending reductions in the last few days. On a weekend during which tens of thousands of protesters marched against austerity , Chancellor George Osborne and Work and Pensions Secretary Iain Duncan Smith signalled they would press ahead with cuts. The welfare changes will include capping benefits at £23,000 a year for each family.