George Osborne to spell out welfare cut plans next month

British chancellor George Osborne, fresh from his Conservative Party’s election victory on May 7, said he would spell out on July 8 how he plans to make further big cuts to public spending and boost the country’s growth prospects.

“I am going to take the unusual step of having a second budget of the year because I don’t want to wait to turn the promises we made in the election into a reality,” Osborne said.

“And I can tell you it will be a budget for working people,” he said.