Source: Independent
Tax cuts for low and middle-income families in April will be dwarfed by hidden reductions in tax credits, according to a study for The Independent.
The analysis found that the £1bn of tax cuts in April will be outweighed by reductions of more than £2.5bn in the complex tax-credit scheme.
Most of the cuts to credits, which top up the wages of low-income families in work, will take effect from April and could catch families unaware.
Read More: Britain’s poorest hit by £2.5bn ‘stealth tax’
http://www.independent.co.uk/news/uk/politics/britains-poorest-hit-by-25bn-stealth-tax-6281832.html
Cartoon by Bob Moran
