The current cost of living is pushing more people into poverty, with almost 68% of low income...
Tax credits
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11/04/2013
Poorest areas hit hardest by benefit cuts
The most deprived areas of Great Britain will also be the ones hit hardest by the coalition's policy of cutting benefits and tax credits, according to a new analysis from the Centre for Regional, Economic and Social Research in Sheffield.
The study does not cover the new universal credit system, which is not considered likely to have a major impact before 2018.
Category: Reports -
01/04/2013
April 2013 ‘Big Bang’ for benefits and taxes
A series of major changes to the tax and benefits systems came into effect from April 2013, accompanied by disputes over their purpose and likely impact. The Chancellor George Osborne described them as being about backing 'hard working people who want to get on in life'.
Category: News stories -
18/03/2013
2012 Autumn Statement ‘will increase child poverty’
Tax and benefit changes announced by the Chancellor in his 2012 Autumn Statement will mean an extra 200,000 children living in poverty by 2017-18, according to a new analysis from the Institute for Public Policy Research think tank.
The Autumn Statement announced several important changes to the tax and benefit system from April 2013 – including a higher personal tax allowance and a 1 per cent cap, for three years, on the annual uprating of most working-age benefits and tax credits.Category: Reports -
12/03/2013
Child poverty set to rise by 690,000
A new analysis has shown that tax and benefit changes under the coalition government, combined with low wage growth, will leave 690,000 more children living below the minimum income standard by 2015.
The analysis was commissioned by the TUC from the independent Landman Economics consultancy. It examines the current and future impact of various tax and benefit changes since 2010 – including universal credit, direct and indirect tax changes and real wage growth – on the incomes of different households and family types.
Category: Reports -
15/10/2012
Tax-benefit system ‘more redistributive’ for women
Changes to the tax and benefit system over the last two decades have strengthened its ability to reduce inequalities in women's lifetime income, according to a new think-tank study. A life-cycle perspective was adopted on women's lives in order to see how the system affects work incentives and redistributes income.
Category: Reports -
21/08/2012
Tax-based child benefits ‘less generous’ than universal systems
Child benefit systems based on the tax system tend to be less generous than those structured around a universal benefit, according to a new study.
The study looked at the changing social and fiscal policy mix of child benefit systems in developed (OECD) countries from 1960 to 2005.
Category: Reports -
27/06/2012
‘Successes’ of tax credits
Tax credits have not had the effect of forcing down wages for low-paid workers, according to a think-tank report. Overall, tax credits have had a number of successes and are popular with those who get them. But the new universal benefit system, coming in from 2013, means the purpose of tax credits needs rethinking.
The report looks at the direct and indirect impacts of tax credits introduced under the previous Labour government.
Category: Reports -
18/06/2012
62 per cent of households get benefits
Sixty-two per cent of all households (or ‘benefit units’) get at least one form of state support, including tax credits, retirement pension and child benefit, according to the latest official survey results for 2010/11. This is broadly similar to the previous year.
The Family Resources Survey, which interviewed 25,000 households in 2010/11, collects information on the incomes and circumstances of private households in the UK.
Category: Reports -
06/04/2012
Families lose out from Coalition Budget changes
An updated analysis from the Institute for Fiscal Studies suggests that the combined effect of all the tax and benefit changes effective from April 2012 would be an average loss of £511 per year for households with children. In Tax and Benefit changes, excluding those affecting mainly the very rich, the Institute for Fiscal Studies takes into account a long list of changes, some announced as long ago as the 2010 Budget but only coming into force now.
It shows:
Category: News stories -
06/04/2012
Tax credit cuts will hit family finances
The new rules on working tax credits from the start of the 2012/13 tax year will hit around 212,000 low income families, according to information published by the House of Commons Library. This will reduce their income on average by £2,600 each year.
Up till now, most couples with children have qualified for working tax credit, provided one partner works at least 16 hours each week. But from April 2012 couples will need to work 24 hours between them, with one partner working at least 16.
Category: News stories
