Piglet .... well you are clearly wrong as that is not what I have said.
Do you understand that in November there will be the usual Autumn Statement, and in addition, what should be the 3-years forward ALL government department Public Spending Round (review)?
There is no doubt that Tax Credits, where as a government with a fatter labour intensive £££ workforce, it takes ever higher taxes, and pays some back to the people as an employment subsidy, was a stupid 'sun shining on our money tree' idea, and likely to crash at the first recession.
So having HAD that great recession, getting rid of that cluster-fuck IS the objective of the Conservative government.
The problem was some of the goodies to compensate would come in after the cuts, which was a dumb idea.
So for Osborne/Cameron the objective will STILL be to wean the UK off Tax Credits, which also encourages/subsidises lower paid immigration and puts pressure on homes and services demand, BUT CUSHION the transition.
But whether that is done entirely, or in part, is up to Osborne GOING BACK to his soon to be announced 3-year plan, and playing with the figures to see what ELSE might be cut in order to balance our books by 2020 - with the OPTION of then paying down our still accumulating National debt.
In the real world, if a politician promises anything to do with £4.5 bil, they will be asked HOW it will be paid for, especially when running a deficit economy where IT IS ALREADY SPENT - and that will be what Osborne/Cameron would not have known was possible yesterday, based on whatever else needs to be cut to pay for it all(?) - and the priority of those affected by new cuts, as all 'low hanging fruit' e.g. the cutting back of a fat government, has gone.