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Tax Credits Cuts Arrive

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Overheard two mothers talking at the park. Both had received notification last week that their tax credit claim would not be renewed for the forthcoming year.

Middle Britain all in it together. . . .

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Tax credit made much of 'middle Britain' effectively a welfare recipient. The Tories seem to have already made themselves deeply unpopular with many who, back in the 80s, would have been surefire tory voters.

I can see this government lasting one term and then it's New Labour forever and ever and ever and ever.

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Yeah we got ours this month. All I can say is good. They were only giving us £40 a month anyway.

Which equates to nearly £500 per anum this along with all the other inflationary pressures and pay freezes/cuts puts increasing amounts of downward pressure on HPs.

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Which equates to nearly £500 per anum this along with all the other inflationary pressures and pay freezes/cuts puts increasing amounts of downward pressure on HPs.

I agree completely. It's just another nail in the coffin. But imo the sooner all this nonsense is cut out if the economy the better.

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Which equates to nearly £500 per anum this along with all the other inflationary pressures and pay freezes/cuts puts increasing amounts of downward pressure on HPs.

Yes bit by bit it is all adding up , the rise in NI wipped out the rise in tax free allowances . V.A.T. up , petrol up, food up, train fares up ( all far more than the tiny pay rises ,pay freezes , or pay cuts. Tax credits reduced , Familiy allowances scrapped for those on higher rate tax. Higher rate tax threshold reduced.

Those one income households with two kids and an average mortgage that were sitting pretty on £40k + a few years back are really now starting to feel the pinch . As they say the " squeezed middle " It really is !!

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Lost ours, had the letter Saturday. The amount lost was £32 per month.

Edited by Mr. Miyagi

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Yes bit by bit it is all adding up , the rise in NI wipped out the rise in tax free allowances . V.A.T. up , petrol up, food up, train fares up ( all far more than the tiny pay rises ,pay freezes , or pay cuts. Tax credits reduced , Familiy allowances scrapped for those on higher rate tax. Higher rate tax threshold reduced.

Those one income households with two kids and an average mortgage that were sitting pretty on £40k + a few years back are really now starting to feel the pinch . As they say the " squeezed middle " It really is !!

A few IR rises could just provide the coup de grace for HPI.

How long can the BoE hold out ?

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Never got round to claiming the tax credit when we were eligible. I go out with all the mums and daughters of my village, all middle class professionals abd they've all got their letters. I was surprised that they were claiming it TBO especially since they moved in to our village preHPI and mouseprice tells me none of them paid more than 100k for their house and a few as low as £65k... scary that they seem reliant on the £40 or so quid.

This will be the straw that breaks the back of the middle classes.

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Yes bit by bit it is all adding up , the rise in NI wipped out the rise in tax free allowances . V.A.T. up , petrol up, food up, train fares up ( all far more than the tiny pay rises ,pay freezes , or pay cuts. Tax credits reduced , Familiy allowances scrapped for those on higher rate tax. Higher rate tax threshold reduced.

Those one income households with two kids and an average mortgage that were sitting pretty on £40k + a few years back are really now starting to feel the pinch . As they say the " squeezed middle " It really is !!

They may remember all this in 2015. Unless there are giveaways to come.

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Tax credits really grip my sh*t. Why can't they just tax people less?

Because that would reduce complexity. Simplicity is the enemy of corruption.

NuLab made everything more complex - draw your own conclusions. The present government's actions seem to work both ways, from the sensible through to their lunatic higher education regime.

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Tax credits really grip my sh*t. Why can't they just tax people less?

..or you could rephrase that as...why can't employers pay a living wage, and thus the govt (we) are effectively subsidising them..

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..or you could rephrase that as...why can't employers pay a living wage, and thus the govt (we) are effectively subsidising them..

Employers can't pay a living wage because tax and rents eat up all their money.

I'll get me coat. -_-

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..or you could rephrase that as...why can't employers pay a living wage, and thus the govt (we) are effectively subsidising them..

well if an employee actually got all of the money that a company paid for employing them the employee would be much better off:

e.g.

£10k take home pay costs your employer~ £11,450

£15k take home costs £20,700

£20k take home costs £28,800

£25k take home costs £37,000

spotting a trend here? employers are paying a living wage.

Min wage (£6 per hour) costs an employer closer to £6.50 due to taxes and that doesn't take account of the fact that they have to pay you with money that has been taxed with corporation tax first, then you pay VAT when you buy something with your money.

Want a living wage? Cut NI, employers NI and Income tax for those on low incomes. Then make salaries deductible from corporation tax.

Fundamentally the less tax the govt takes the more is left in your pocket.

(we could do with a 0% VAT as well TBH)

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Tax credits really grip my sh*t. Why can't they just tax people less?

because if you taxed people less, then you wouldn't solely benefit key swing demographics that might swing to Labour

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because if you taxed people less, then you wouldn't solely benefit key swing demographics that might swing to Labour whichever party you might be

corrected ;)

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Tax credits really get me angry.

I'm 23 and have worked from being 10 up until 22 when I did 8 months on the dole, and a couple of short dole claims for a week or two when I've quit jobs.

A friend of mine at a factory I worked at, from Eastern Europe had been working in the UK for a year and could claim them as he was over 25, but me being under 25 could not.

A woman at work gets them and she does 18 hours a week, she has 3 children and has a mortgage on a 3bed house that is nearly paid off now.

I work 40 hours, there is no overtime, I can just afford to pay my rent and council tax, I'm about £30 a week better off than dole, unless I'm sick one day and for that week I'm screwed, a one week claim for £1-2 of housing benefit is not worth the effort filling in the forms and I'd still be worse off than dole that week due to travel costs.

I've been reading the new policies with interest, and I'm going to be worse of this year due to the NI rise and above RPI rent increase. In July I'm 24, I'm going to go back onto dole I think and do a days cash in hand instead for a year, I'll be better off. The system is a complete mess.

Working working working and all I do is pay the bloody rent of the flat I seldom see. Might as well be on housing benefit and enjoying my flat. I can't afford to go to the pub, I can't afford to eat out, I don't have any heating (although installed its too expensive to run), I eat smart price food, I cannot afford to run a car due to prohibitive insurance.

I like my job, but I fecking hate working poverty.

Most people on benefits have a higher income than me and it gets me angry, and I will be joining their ranks once again in protest!

I will claim until the £ dies a death!

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We get nearly £14k :lol::lol::lol:

We used to get a tenner a month when I was working 60hr/wk, so I quit.

If you don't like.............

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Working working working and all I do is pay the bloody rent of the flat I seldom see. Might as well be on housing benefit and enjoying my flat. I can't afford to go to the pub, I can't afford to eat out, I don't have any heating (although installed its too expensive to run), I eat smart price food, I cannot afford to run a car due to prohibitive insurance.

diddums :P

Sorry, not really. I remember vividly my time in your position, and it was a definite PITA.

I got out of it by leaving the UK, and so missed my generation's opportunity to buy a cheap house in the 1990s :(

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In the old days of Family Allowance my Mum got seven shillings and sixpence a week for me. She could not buy much Gin with that. :(

But if NuLab saw her spending it all on gin, they'd've seen you in poverty and given her more. She could've graduated from gin to fancy cocktails.

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We get nearly £14k :lol::lol::lol:

We used to get a tenner a month when I was working 60hr/wk, so I quit.

If you don't like.............

I work 40 hours a week and I get less than that. No benefits to top me up!

I'm essentially working for a wage equivalent to benefits. To benefit people on benefits like yourself.

Your benefit is more than my wage, and that is wrong.

I'm going to sign on again, the system is screwed.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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