Tax Credits cut will hit local families

This is an article for Seaside News

The Welsh Liberal Democrats have calculated that 8,200 families in Bridgend and Ogmore 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

UK-wide as part of the Government’s proposals.

 

The change will mean a total loss of £9m to families in our area with the average 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 don’t stack up.

 

The IFS analysis shows a £750 average loss will only be offset by £200 as a result of the new minimum wage.

Liberal Democrats have opposed the 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.

 

I am pleased that Liberal Democrats are opposing this measure. We worked hard in Coalition to ensure that work would always pay more than choosing to remain on benefits.

 

It is a disgrace the Conservatives are now undermining this good work.

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