The Nats’ welfare cuts will cost $500m over 4 years. Supposedly save a billion. Net saving: $125m a year. 1% of benefit costs. 1/8th of the cost of extra beneficiaries under National. Won’t really save even that little. No jobs. Unemployment rising. National’s problem is it tries to save costs of the welfare safety net by cutting holes in the net. The real solution is to stop people falling in. Best welfare policy is a jobs policy.