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Lords votes down tax credit changes...for now

 
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Little John



Joined: 08 Mar 2008
Posts: 5574
Location: UK

PostPosted: Tue Oct 27, 2015 3:40 am    Post subject: Lords votes down tax credit changes...for now Reply with quote

Funny how the BBC is now only finally and belatedly going to town on actually explaining in detail, as a matter of arithmetical fact, precisely how much certain groups are going to be worse off with this legislation, should it be passed. Right up to this point they had, instead, been presenting the numbers as if they were merely a matter of differing political opinion.

It is, as ever, abundantly clear that the BBC is essentially little more than an establishment whore that will bend over in whichever direction it thinks it needs to in order to curry favour from its real political masters. Which, by the way, are most certainly not us, the license payers.

Even so, the graphic below (from the current BBC website reporting on this), still hides the fact that a small proportion of those affected will be around 2000 worse off per year.

http://www.bbc.co.uk/news/uk-politics-34631156

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johnhemming2



Joined: 30 Jun 2015
Posts: 1905

PostPosted: Tue Oct 27, 2015 9:29 am    Post subject: Reply with quote

I would like someone to do detailed figures on this. I believe the changes are a mistake by seeing the headline figures, but you need to take into account the impact on universal credit as well.
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clv101
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Joined: 24 Nov 2005
Posts: 7556

PostPosted: Tue Oct 27, 2015 12:06 pm    Post subject: Reply with quote

Frankly I find it ridiculous that the government raises the inheritance tax threshold - specifically only benefitting the wealthiest estates in the land whilst cutting tax credits - specifically penalising some of the poorest people in the land.

Obviously the inheritance tax give away is a much smaller amount than the reduction in tax credits but the principle of the matter sucks. At the very, very least the inheritance tax threshold should only have been raised by inflation which would allow a slightly higher tax credit taper threshold.
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biffvernon



Joined: 24 Nov 2005
Posts: 18553
Location: Lincolnshire

PostPosted: Tue Oct 27, 2015 12:45 pm    Post subject: Reply with quote

johnhemming2 wrote:
I would like someone to do detailed figures on this.

I have some relatives who would be classed as a 'hardworking' family. Self-employed (so no benefit from changes to minimum wage) they are a couple with one young child and pay themselves from their business about the minimum wage. They calculated they would lose 1300 next year, which presented them with a puzzle described by Dickens's Mr Micawber.
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johnhemming2



Joined: 30 Jun 2015
Posts: 1905

PostPosted: Tue Oct 27, 2015 12:57 pm    Post subject: Reply with quote

Although I also oppose the increase in the inheritance tax. I would still like to see a detailed analysis of the impact of the tax credit changes proposed. I suppose I might have to do it myself.
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