© Provided by Press Association Chancellor George Osbourne leaves the Treasury ahead of his joint Autumn Statement and Spending Review
George Osborne has scrapped planned cuts to tax credits for millions of low paid workers and ruled out further reductions in police budgets.
He said he would still be able to deliver the promised £12 billion in welfare cuts over the next five years while balancing the books by the end of the Parliament.
To cheers, he told the Commons: “I’ve had representations that these changes to tax credits should be phased in.
“I’ve listened to the concerns. I hear and understand them.
“And because I’ve been able to announce today an improvement in the public finances, the simplest thing to do is not to phase these changes in, but to avoid them altogether.”