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Autumn Statement 2015: George Osborne's Review Compared To Punching A Lion In The Face

25/11/2015 20:46 GMT | Updated 25/11/2015 21:59 GMT

Wednesday saw George Osborne announce his much-anticipated Autumn Review and many people were a little bit shocked when they found themselves praising him for it.

But not a certain Scott Tyson...

So George Osborne has just announced that he's doing a u-turn and scrapping the Tax Credit cuts. Good. It's the right...

Posted by Scott Tyson on Wednesday, November 25, 2015

Brutal.

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Osborne caved in to huge pressure and announced a full-scale U-turn on his planned cuts to tax credits for millions of Britain’s working poor.

Just weeks after his humiliating defeat in the House of Lords, the Chancellor was forced to axe his £4.4bn cuts to the in-work benefit and admitted he will bust his own self-imposed welfare cap.

Mr Osborne used a £27bn windfall from higher tax receipts and lower interest payments to dump the cuts.

He will still slash £12bn from the overall welfare bill, but said he would now do so “in a way that helps families, as we make the transition to our national living wage.”