New House of Commons Library briefing showing welfare savings 2010/11 to 2020/21

The House of Commons Library Welfare Expenditure and Savings Tool combines multiple sources of expenditure and savings data into one easy to use, up-to-date analysis tool. Users can track changes in welfare expenditure over time, analyse savings as a proportion of expenditure and identify key policy measures by benefit announced since June 2010. Total spending on UK social security and tax credits will be £218.4 billion in 2016-17, 28.3% of total managed expenditure. Measures announced since 2010 will save around £26 billion in the same year, roughly 10% of what welfare spending might otherwise have been.

Of all savings announced June 2010 to March 2016, the three single largest measures are:

- Switching the uprating of most benefits to CPI from 2011-12;
- Limiting the uprating of most working age benefits and tax credits to 1% for three years from 2013-14;
- Removing Child Benefit from families with a higher rate tax payer.

http://researchbriefings.parliament.uk/ResearchBriefing/Summary/CBP-7667