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Not all is as it seems warns Phil Wilson on Tory Tax Credit ‘U-turn’

Phil Wilson, MP for Sedgefield, was relieved yesterday when George Osborne backed down and opted to scrap his proposed cuts to tax credits, which could have seen working families £1300 worse off a year.

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(Pictured above: Phil and Sedgefield Labour Party members campaigning against Tax Credit Cuts)

 

Mr Wilson commented “I am delighted that the government have reversed proposed plans to cut tax credits. The Labour Party have campaigned tirelessly to try and protect hardworking families from these cuts. We understand what loosing tax credits would mean to families across the country.”

 

Mr Wilson has however, warned that not all is as it seems, “upon reading the small print, it is evident that Mr Osborne has not fully reversed his tax credit cuts, and many working families will still lose out.”

 

The small print of the Autumn Statement and Spending Review reveals yesterday’s announcement is not a full reversal of the cuts announced in the July Budget, which would have totalled £4.4 billion and affected over 3 million working families.

 

Careful reading reveals the government has only scrapped £3.4 billion of cuts next year. Although, in 2016 alone £1 billion will still be taken away from working families through cuts to working tax credits / universal credit. A figure that will rise to over £3 billion by the end of parliament.

 

Phil Wilson has said “Whilst I am delighted that the planned tax credit cuts will not be implemented, I am still concerned about government cuts. Planned cuts to universal credit, which for many claimants will replace tax credits, are too go ahead meaning poor families, who work very hard, will still lose out.”

 

 

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