Anyone Know Where The £12Bn Of Welfare Cuts Will Come From?

[VeryMeanReversion]

Yes thats the usual defence.I expect we might see some changes tomorrow to affect that.A two child limit though does nothing to stop it happening.Much lower amounts is the only real answer.I keep hearing working tax credit is the target as its easier from a political point.Getting rid of that would cut tax credits by a big amount for people in work.

The problem is it wouldnt cut anything for people out of work.If it was my call i would cut working tax credit down to £1500 for single and £2500 for couples.Cut child tax credits to £38 a week.Place a two child limit.Start means testing from £2500 instead of £6400.That would see tax credits go at NMW x 2 for couples with two children.Increase the hours rules to 25 once a child is 6 for single people 40 for couples.

That would keep a safety net,remove the huge payments and make sure anything after NMW was kept by the worker as tax credits will of ended.

Another good post, much appreciated DB.

[PopGun]

I haven't had a detailed read, but another example of corporate socialism (sorry weath creation):

The £93bn handshake: businesses pocket huge subsidies and tax breaks

Robbing Peter to pay Tristam.

Osbourne is an utter joke, as were the filth in office before him.

[Rare Bear]

Am I missing something but if demand reduces (because people don't have the benefits or income to keep demand up) won't prices fall? Isn't that the magical supply and demand argument we are always hearing about.

But don't forget that the people who pay the taxes to pay the benefits should have more of their own money to spend in the economy.

[workingpoor]

labour Mp just had cameron on Universal credit,

lying through his teeth camera cut to IDS stood poker faced.