Conor McGinn, Labour’s Treasury Whip, was on the frontbench today for a debate calling on the Government to reverse its decision to cut tax credits.
The Government plans to cut the income threshold for Working Tax Credits from хЃ6,420 to хЃ3,850 a year.
IFS analysis has also shown that the proposed ‘National Living Wage’ will only account for account for a quarter of the losses working families will face as a result.
CommentingхЪConor said:
“These changes will hit many working families hard and at a time when many are struggling to make ends meet. The cuts to tax credits amount to a ‘work penalty’ and will hit families on middle and lower incomes – more than 3 million working families will be on average хЃ1,300 worse off next year.
“In the North West 417,800 families may suffer as a result and 5100 families will be affected in my constituency, St Helens North. This is simply unacceptable, we should not be making life harder for working families.
“This is yet another broken promise from David Cameron who promised not to cut tax credits before the General Election. Even a former Tory Minister is calling for the plans to be tweaked.хЪ
“Today I call on David Cameron and George Osborne to reverse their decision to cut tax credits. If this does not happen then the next Labour Government will reverse them.”