Ten Things You Need to Know Today: Wednesday 15 Jan 2014

1. OSBORNE: EUROPE MUST CUT WELFARE

Europe must take the axe to its bloated benefits bill, which now accounts for half of all welfare spending on the planet, George Osborne warned today. The Chancellor told EU leaders ‘we can’t go on like this’ and raised the prospect of Britain leaving the EU altogether if the 28-nation bloc fails to reform.

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