Softening Of Tax Credit Blow To Be Funded By Housing Benefit Cuts

‘The chancellor, George Osborne, is expected to fund the softening of the blow of controversial tax credits reductions by taking away housing benefit from many of the same people who will lose out.

Osborne’s tax credit changes were defeated in the House of Lords last month with many in his own party worried that they would punish working families unfairly.

The transitional arrangements will be set out in the five-year spending review, which will include further cuts at the Home Office for Theresa May – expected to lead to another round of reductions in frontline policing. The chancellor will also be forced to admit that his deficit reduction forecasts for this year have proved over-optimistic and his hope of reaching a £10bn surplus at the end of the parliament is unlikely to be fulfilled.’

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