Tax credit changes hammer local families

4,600 families in Dulwich & West Norwood will lose out under Conservative plans to cut tax credits.

Figures produced by the House of Commons Library show over three million low-income working families currently in receipt of tax credits will see their entitlement reduced, as part of the Government’s proposals.

The change will mean a total loss of over £6 million to families in Dulwich & west Norwood, with the average local family losing £750 a year.

Despite claims from the Conservatives that those affected will benefit from plans to increase the minimum wage, the independent Institute for Fiscal Studies has said Tory figures just don’t stack up.

IFS analysis shows a £750 average loss will only be offset by £200 as a result of the new minimum wage leaving working families so much worse off.

Liberal Democrats have opposed this move and said it undermines the work of the Coalition Government, to make sure it always pays more to be in work than on benefits.

These changes to tax credits will hammer our local families in and undermines any claim the Tories have of being on the side of working families.

“What makes this even worse is that just over 7,300 local children in our area will now be forced to live in poorer households, reducing their life chances and making it harder for their parents to make ends meet.

So many studies have shown that the Conservative’s claim to be supporting low income families through a minimum wage increase nowhere near make up for these drastic unfair cuts. They really need to come clean about this ideological change and be honest with those doing the right thing and going out to work

The only ray of sunshine is how hard Lib Dems are opposing these measures. We worked hard in Coalition to ensure that work would always pay more than choosing to remain on benefits. Go on Lib Dem Lords sock it to them…

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