U.K. Faces Rift Over Welfare Spending Cuts, Times Reports

U.K. Pensions Secretary Iain Duncan Smith told the Chancellor of the Exchequer George Osborne that he rejects a plan in last month’s budget to cut welfare spending by an extra 10 billion pounds ($16.3 billion) from 2014 and 2016, the Times of London reported citing an interview.

Reform, not cuts alone, is the key to long-term savings and the government has a responsibility to support the poor, Duncan Smith said in the newspaper.

To contact the reporter on this story: Trista Kelley in London at tkelley2@bloomberg.net

To contact the editor responsible for this story: Phil Serafino at pserafino@bloomberg.net

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