Costings after U-turn on tax credits reveal changes to universal credit will save the Treasury nearly as much moneyThe Labour party has seized on new costings of George Osborne’s welfare reforms to argue that he still plans to assume £3bn a year out of the pockets of Britain’s poorest families,despite reversing his controversial tax credits cuts.
Analysis from the independent Office for Budget Responsibility, published on Friday, and suggested the changes to universal credit announced in the July budget would save the chancellor close to £3bn by 2019-20.
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Source: theguardian.com