Tax credit cuts would mean families earning just £4,000 per year would lose money

‘Families whose combined household earnings total as little as £3,850 would lose tax credits under George Osborne’s plan to cut the amount available in the future.

Analysis from the Commons Work and Pensions select committee provided the shocking figures, which contradict Osborne’s – and the Conservative Government’s – claims that they are “making work pay” for people on lower incomes.

The report has warned that only about one-third of those affected by the tax credit cuts would benefit from the increase in the minimum wage – misnamed the National Living Wage by the Tories, even though it won’t provide enough money for people to survive without claiming benefits – even by the time of its full implementation in 2020-21.’

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