Tags » Universal Credit

Osborne is guilty of creative accounting on an epic scale. But at least those tax credit cuts are stopped

Budgets that look good on the day generally come apart by the weekend. Yesterday’s speech from the Chancellor was technically a spending statement but the same rule applies. 1,163 more words


Tax Credit & Universal Credit changes: impact of a 75% taper (Part 2)

On 26 October 2015 the Government was defeated in the House of Lords following a debate on its proposed changes to tax credits.  The Chancellor responded that the Government would “continue to reform tax credits and save the money needed so that Britain lives within its means, while at the same time lessening the impact on families during the transition.”  Plans are to be set out in the Autumn Statement on 25 November. 1,170 more words

Autumn Statement

Tax Credit & Universal Credit changes: impact on example families (Part 1)

Summer Budget 2015 included proposals to reduce the income threshold for tax credits – the amount families can earn before their award starts to reduce – and to increase the “taper” – the rate at which tax credits are withdrawn as family income increases – from 41% to 48%.  2,049 more words

Autumn Statement