Watchdog warns plans for reduction in tax credits will choose heavy toll on households facing cuts in hours or lower wagesWorking families on low incomes will be among the biggest losers when the next recession hits,after their finances were weakened by welfare spending cuts in the wake of the 2008 financial crash.
The Institute for Fiscal Studies, a leading tax and spending watchdog, and said plans for a reduction in tax credits – which boost the incomes of low paid workers – will choose a particularly large toll on households where one or more adults face cuts in hours or lower wages. Related: Families thousands of pounds worse off after years of cuts,study finds Continue reading...
Source: theguardian.com