Jump to content
House Price Crash Forum
TheCountOfNowhere

George Osborne Considering £5Bn Cuts To Child Tax Credits

Recommended Posts

Probably should also extend it to working tax credit more widely.

Clearly a millionaire who files a tax return as self employed, may be doesn't put in the hours, shouldn't be getting benefits. Absolutely possible in a zirp era and the fact ISas are exempt.

Share this post


Link to post
Share on other sites

The only problem I have with this is the fact that it's been discussed now in the media. It gives way too much time for a backlash to be constructed, and for him to "decide not to do it after all", in a carefully stage-managed sequence of events.

I was hoping that the fuss about child benefit would be part of the planned sequence, with the surprise announcement that in fact it was Child Tax Credits to be slashed that will be made in the budget on 8th July with no wriggle room or time for it not to happen.

Share this post


Link to post
Share on other sites

So the bill for child tax credit has risen because 'big employers' refuse to pay their employees a living wage?

And cutting CTC will address this iniquity? How?

What flaring nonsense.

It's the cost of living that's too high! The biggest single component of which is the astronomic cost of keeping a roof over your head. It makes no economic sense whatsoever to extend govt benefits to landlords while simultaneously removing existing benefits from their tenants.

Share this post


Link to post
Share on other sites

How many houses would £5b buy?

.......give people a place to rent where their wages could cover the rent.....no tax credits required, no benefits required, only wages required....win, win. ;)

Share this post


Link to post
Share on other sites

So the bill for child tax credit has risen because 'big employers' refuse to pay their employees a living wage?

And cutting CTC will address this iniquity? How?

What flaring nonsense.

It's the cost of living that's too high! The biggest single component of which is the astronomic cost of keeping a roof over your head. It makes no economic sense whatsoever to extend govt benefits to landlords while simultaneously removing existing benefits from their tenants.

Quite. Get George to ask Tesco, ever so nicely, to pay for their kids instead.

Share this post


Link to post
Share on other sites

Quite. Get George to ask Tesco, ever so nicely, to pay for their kids instead.

Well it should go along with an increase in the minimum wage.

Share this post


Link to post
Share on other sites

So £5bn in savings from the poor and zero from the rich?

Does George now want wages of the low paid to increase by 10% to make up for this? If wages don't go up what does he think is going to happen to aggregate demand and also tax revenues? Also it's nice to see that George appears to be blaming the low paid for being low paid because they lack the incentive to work. Unlike the rich who've got richer by the welfare of near zero interest rates and free money from the central banks. If only the low paid could be as industrious and this country would be rich.

Share this post


Link to post
Share on other sites

The only problem I have with this is the fact that it's been discussed now in the media. It gives way too much time for a backlash to be constructed, and for him to "decide not to do it after all", in a carefully stage-managed sequence of events.

I was hoping that the fuss about child benefit would be part of the planned sequence, with the surprise announcement that in fact it was Child Tax Credits to be slashed that will be made in the budget on 8th July with no wriggle room or time for it not to happen.

Chancellor urged to accept some ‘loss of face’ to avoid lasting damage to Tories amid warnings his spending plans will force him to slash child tax credits
EU Cameron's mission to

Well you didn't have to wait long, it was only a matter of hours, not even a day.

Share this post


Link to post
Share on other sites
Chancellor urged to accept some ‘loss of face’ to avoid lasting damage to Tories amid warnings his spending plans will force him to slash child tax credits
EU Cameron's mission to

Well you didn't have to wait long, it was only a matter of hours, not even a day.

its simple they dont need to alter the claiming benefits but they could do what they have done for the NHs claiming it back from home nation, want they could agree is that the benefit bill should be passed over to the home nation for payment.

Edited by crash2006

Share this post


Link to post
Share on other sites

So £5bn in savings from the poor and zero from the rich?

They are NOT POOR. As long as they have a couple of kids and work 2 days a week, they are showered with money taking their income so far above proper full-time highly-skilled work that it's a complete travesty.

Share this post


Link to post
Share on other sites

They are NOT POOR. As long as they have a couple of kids and work 2 days a week, they are showered with money taking their income so far above proper full-time highly-skilled work that it's a complete travesty.

Well indeed, poor is a word used loosely these days when you can pull in £25,000 a year in benefits especially if you are socially housed.

A poor person might be someone who has to manage a £100 per week smoking habit to boot.

At the end of the day we tend to judge rich and poor on the accumulation of balance sheet wealth and quite often the lifetime consumption of the poor person might often exceed the consumption of the wealthy person that has therefore accumulated the difference.

But I guess we need ''poor'' high spenders to keep the economy ticking.

Share this post


Link to post
Share on other sites

Well indeed, poor is a word used loosely these days when you can pull in £25,000 a year in benefits especially if you are socially housed.

A poor person might be someone who has to manage a £100 per week smoking habit to boot.

At the end of the day we tend to judge rich and poor on the accumulation of balance sheet wealth and quite often the lifetime consumption of the poor person might often exceed the consumption of the wealthy person that has therefore accumulated the difference.

But I guess we need ''poor'' high spenders to keep the economy ticking.

I agree apart from this bit "But I guess we need ''poor'' high spenders to keep the economy ticking."

we don't, cut their benefits and cut our taxes and it will be just as good.

Share this post


Link to post
Share on other sites

the effects of implementing these cuts will be felt not just by those with children. What some people don't seem to understand about benefits is that claimants spend the money they receive directly into the real economy. You know, the thing with shops and stuff where people work and get paid wages? Duh!

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   109 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.