Chancellor George Osborne said he has "found" the £12 billion of benefit cuts promised in the Tory election manifesto.
Measures expected to be announced in Wednesday's budget include cutting the amount of social housing cash available to council and housing association tenants, slashing the benefits cap to £23,000 a year in London and reducing funding to the BBC by £650 million a year.
The extra cash raised from cuts to subsidies for high earners living in social housing will go straight to people living in council properties.
As much as £250 million a year by 2018-19 could be raised towards reducing the country's debt burden.
Expectations are that Chancellor George Osborne will argue that 9% of all social tenants in England are now on higher incomes while enjoying the benefit of an average £3,500-a-year per household in reduced rent.
They include over 40,000 with annual household incomes in excess of £50,000 and a further 300,000 with incomes over £30,000.
The move builds on measures introduced under the coalition that enabled housing associations and local authorities to charge market rents to those on incomes of more than £60,000.
The Democratic presidential candidate may also have shown his cards on his choice of running mate.
The US president also shared a post on Twitter accusing Dr Anthony Fauci of misleading the public over hydroxychloroquine.
Fears over an impending second wave of coronavirus dominates Wednesday’s front pages.