Welfare spending refers to government programs that provide financial assistance to individuals and families in need. These programs aim to provide a safety net and address issues such as poverty, unemployment, and disability. Chancellor Rachel Reeves is reportedly planning cuts to the welfare budget due to economic pressures. - Chancellor Rachel Reeves is preparing to announce substantial spending cuts, including billions from the welfare budget. - The cuts are attributed to a changing economic landscape that has reduced the financial buffer available to the Chancellor. - A minister has defended the proposed cuts, arguing there is a 'moral case' for reducing Britain's welfare bill and getting people into work. - The cuts are expected to be outlined in the upcoming Spring Statement.