PM says plans for £3bn-a-year cuts set out by George Osborne are better than reducing benefits for wealthier pensioners.

David Cameron has defended his plan to carry out billions of pounds of extra cuts to benefits for the working poor, saying it is only fair to ensure welfare payments are not rising faster than earnings.

The prime minister insisted the proposals for £3bn-a-year cuts, set out by the chancellor, George Osborne, on Monday, were better than raising taxes or reducing benefits for wealthier pensioners. The plan means a two-year freeze on benefits and tax credits for about 10m households, many of whom have already borne the brunt of austerity.

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