Higher income earners who live in social housing will no longer be able to claim taxpayer-funded subsidies for their rent under a fresh welfare cut expected to be announced by George Osborne in his Summer Budget this week. The “Pay to Stay” measure, which will form part of the Chancellor’s attempts to slash the Government’s welfare bill by £12bn, will scrap benefits for some 350,000 people who live in housing association and local authority properties. The move will save £250m a year by 2018/19, a fraction of the £12bn Mr Osborne plans to cut. From 2017/18, those on incomes above £40,000 in London and £30,000 in the rest of England who live in social housing will be charged a market or...
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