Later today MPs will vote on whether or not to cut tax credits to the low paid and unemployed. Former Green Party Parliamentary Candidate for South Thanet , Ian Driver, has said that at least 16,400 families in Thanet are likely to be affected by this decision, including his own. According to the latest Government figures 8,500 families in the South Thanet parliamentary constituency and 7,900 families in North Thanet, receive working and/ or child tax credits. If the cuts to tax credits are approved today then, in April 2016, most of these families will see significant reductions in their household incomes. Said Driver “Prime Minster Cameron has claimed that tax credit cuts will be offset by the introduction of the Living Wage and increases in tax allowances and that most families will not be worse off. This is simply not true.
Foundation and the Institute of Fiscal Studies, both highly respected
think-tanks, have worked out that most people in receipt tax credits will actually be
worse off, with many families losing up
to £1,300 a year. And just last week the
House of Commons Library published a research paper which also concludes that
there will be many more losers than winners when child and working tax credits
are cut next April”.
He added “Thanet was
recently ranked as the 35th most deprived local authority area in
England and Wales with rates of poverty amongst the worst in the country. To
cut the standards of living of 16,400 families, who are already struggling
desperately hard to get by, is utter madness and will massively increase
the deprivation already faced by tens of thousands of local men, women and
children. This is not a sensible way to promote much needed regeneration and
economic growth in Thanet ”.
“Lets not forget that
the economic recession was caused by the reckless gambling of bankers and speculators and by the failure of Labour and Tory politicians to properly regulate the
greed-driven financial markets. These
are the culprits who should be paying the price for the recession and the
budget deficit, not the poorest and most vulnerable in society. Instead of cuts
for the poorest, I call on the Government to increase taxes for the
wealthy, to close tax loopholes and end the £120 billion Trident missile