Follow by Email

Sunday, 18 October 2015

A cut in Working Tax Credit, could be bad news for some Conservative MP's.

Tory MPs in 71 marginal seats at risk from cuts to tax credits

Always see the funny side

Working Tax Credits are a subsidy paid by the tax payer for business to pay low wages. The government bleat that the cost of this "benefit" has increased substantially over recent years and has to be cut. The only way to reduce the level of these tax credits, is to force employers to pay wages and salaries which are adequate to meet today's living costs. The "minimum wage" or "living wage" call it what you will, is a government confidence trick designed to indicate that the government is "doing something" to assist lower paid workers where in fact it does nothing of the sort. In April of next year, hundreds of thousands of families in this country will be up to £3000 per year worse off due exclusively to a combination of government fiscal policies, of which cutting working tax credit is but one.
If only 71 conservative MP's in marginal seats are at risk at the next election, the Conservative party may consider themselves as fortunate.