From the TUC

Changes in uprating bring huge costs for families – while business gets a tax cut

05 Dec 2012, by in Economics

The changes the Chancellor has announced in the basis for tax credit and benefit uprating will have significant implications for families – our analysis shows that the cumulative impacts of policies announced over the parliament will mean that some households are over £2,800 a year worse off as a result of tax credit changes alone.

Interesting then to consider what’s happening to the main corporation tax rate – set to fall again in April 2014. By 2017/18 this measure is set to cost us just over £1 billion a year – 40% of the £2.5 billion generated by holding down support for working age households.

TUC