Autumn Statement: Philip Hammond to invest £1billion in welfare to ease impact of George Osborne's cuts

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‘More than £1billion will be diverted into the welfare system in a move designed to ease the impact of cuts introduced by George Osborne, the Chancellor will announce today. Philip Hammond will use his inaugural Autumn Statement to increase the amount of benefits that claimants can keep while in work.

It marks a significant departure from the benefit cuts imposed by David Cameron and forms part of Theresa May’s bid to appeal to families who are “just managing” to get by.

The Chancellor will also announce a ban on letting agency fees in a bid to reduce the costs for 4.3million people who rent and help ensure that their “money goes further”.

Read more: Autumn Statement: Philip Hammond to invest £1billion in welfare to ease impact of George Osborne’s cuts