Benefit Cuts Starting To Take Hold
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12 Apr 2011
Local families will now start to feel an impact as the Government’s deep and fast cuts to tax credits, childcare support and the freeze on child benefit have now started to take hold. Cuts to childcare support alone will leave some families up to £1,500 a year worse off. In Yorkshire and the Humber, over 40,000 families will see their support reduced.
With family budgets already squeezed by inflation and January’s VAT increase, everyday costs keep rising. It is simply not right that families with children are feeling the brunt of the Government’s cuts given that the banks have received a tax cut this year.
As well as being deeply unfair, there is a real worry that the changes announced last week will hamper our economy too. By going too deep and too fast the Chancellor of the Exchequer is damaging consumer confidence and holding back an economy which should be growing strongly this year.
If you would like to find out more about the changes to tax credits and childcare support please visit the HM Revenue & Customs website at www.hmrc.gov.uk or the Citizens Advice Bureau website at www.citizensadvice.org.uk