Welfare will be in the spotlight today, as Iain Duncan Smith and Rachel Reeves both make speeches setting out their parties’ views on the issue. Mr Smith will say that Britain’s welfare system is growing at the slowest rate since its inception. The Work and Pensions Secretary will also say that his welfare reforms have saved taxpayers almost £50 billion and resulted in 1.75million more people in work, and 700,000 fewer people in workless households. Shadow Secretary of State for Work and Pensions, Rachel Reeves, will also give a speech today, saying that wage stagnation has meant more people in work becoming reliant on the state. She will say that by 2020, the number of working people depending on housing benefit to meet the costs of their home will have more than doubled, at a cost of over £14 billion.