Chancellor Osborne scraps Tax Credit cuts in Autumn Statement

‘Controversial cuts to tax credits will not go ahead, Chancellor George Osborne has announced in his Autumn Statement. He said the benefit system is “being phased out anyway” to make room for the Tories’ Universal Credit payment.

The chancellor’s announcement comes after a humiliating defeat in the House of Lords, which voted against the measure, saying it would the hit poorest families hardest.’

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