Saturday, February 24, 2024

Phase in tax credits and remove child benefit for some

MAKING Tax Credits fair is at the heart of UKIP’s position, says Cllr Tim Aker MEP.

He said, “UKIP supports plans for the National Living Wage, rising to at least £9 by 2020, while cutting tax credits. Cutting all in one go, while we throw billions overseas, is plain wrong. This government abandons its responsibilities to the people by making the public take the pain while billions are spent on the EU and foreign aid.

“Instead of cutting the tax credit income threshold from £6,420 to £3,850 in one fell swoop in April 2016, UKIP would phase in the reduction evenly in five steps from 2016 until 2020.

“This would better match rises in the National Living Wage and the personal allowance and therefore be fairer.

“Phasing cuts in tax credits in this way would reduce savings in the near-term but ensure the full saving is still made by 2020.

“UKIP, however, recognises that savings have to be made. We would go further and remove child benefit for more than two children for new claimants only, which would over time ensure savings of over £1 billion annually. Above all we would start spending money at home instead of overseas.”


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