Welfare reforms mean the government will 'not make any savings'
The Resolution Foundation has said the concessions made by the government to appease rebellious MPs means the welfare bill will no longer save any money.
The left-wing think tank said the welfare reforms will not reduce spending by 2029/30 - but that they could in the longer term.
Ruth Curtice, the group's chief executive, said: "The government originally hoped to save 拢4.8 billion from its welfare reforms in the crucial year of 29/30.
"The upshot of all the concessions this week is it will now not make any net savings in that year.
"The changes to universal credit are nonetheless important for recipients and their work incentives, and are expected to save money in the longer term."
Tax rises look increasingly likely, says IFS
A little earlier, we reported that the Institute for Fiscal Studies' associate director, Tom Waters, said that the concessions may actually cost the government 拢1m - or 拢0.1bn, rather than save cash as ministers had hoped.
Now IFS deputy director Helen Miller has said the concessions mean the welfare reforms are "not expected to deliver any savings over the next four years".
She added that Sir Stephen Timms' review of PIP "may lead to savings", but said this wasn't certain.
She also warned of future tax rises.
Miller said the chancellor can now expect welfare spending to be higher than she expected in March, which will "halve her margin of error".
"That is before any potential downgrade to the underlying fiscal forecasts", Miller added.
She continued: "Since departmental spending plans are now effectively locked in, and the government has already had to row back on planned cuts to pensioner benefits and working-age benefits, tax rises would look increasingly likely.
"This will doubtless intensify the speculation over the summer about which taxes may rise and by how much."