‘DAVID WILLIAMS HITS OUT AS THE TRUE COST OF TORY TAX CREDIT PLANS WOULD HIT MILLIONS OF MODEST INCOME FAMILIES’.
David Williams, the Labour Party’s Parliamentary Candidate for Crewe and Nantwich, has issued a stark warning as the true cost of the Tory Tax Credit plans is revealed.
At the Tory Conference earlier this year, George Osborne outlined the Tories’ plan to get rid of the Child Tex Credit for households on more than £50,000 per year in total. They said that this would raise them £400million.
It emerged at the end of last week however that George Osborne has got his sums wrong and there is a real threat that a couple on as little as £16,000 each, less than the average earning, would be hit by the Tory proposals.
David Williams said, “Cutting Child Tax Credit for families on more than £50,000, far from raising £400 million, would only raise £45 million. If the Tories need to raise £400 million they would have to withdraw Child Tax Credit from millions of families on much more modest incomes. This is at the same time as the Tories are promising to give £200,000 to the riches estates through their inheritance tax cut.”
David continued, “It is not clear to me whether this huge miscalculation is down to George Osborne’s bad judgement, his inexperience, or whether it is something much more sinister. What is clear is that the Treasury figures expose how George Osborne has misled millions of people over the true scale of cuts he would make to their Tax Credits.”
David Williams went on to say, “The Tory proposals would severely hit many thousands of families in Crewe and Nantwich. At a time when we should be helping families I find it unbelievable that the Tories are not being honest and telling the people of Crewe and Nantwich just what their proposals will actually mean to them. I am totally opposed to these moves to remove Child Tax Credits.”
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