George Osborne’s headline-grabbing U-turn on tax credits wasn’t really a U-turn at all. To stretch the analogy, he put the indicator on to make it look as if he was going to pull a u-ey but then he just slowed down and kept going in the same direction.
The clever folk at the Resolution Foundation spotted this within minutes:
@FlipChartRick UC cuts still happening – so only a delay to in-work cuts
— Adam Corlett (@adamcorlett) November 25, 2015
By scrapping tax credits but moving people onto universal credit, the overall effect by the end of the decade is pretty much the same.
As the IFS said, “the reversal of tax credit cuts makes no difference in long run.” The government still plans to cut in-work benefits but not just yet.
In the short-term, therefore, those on low incomes get a reprieve.
By the end of the decade, though, they are more-or-less where…
View original post 336 more words
Utopia, you are standing in it! 
Recent Comments