Families’ relief over tax credits U-turn

Chancellor George Osborne

Chancellor George Osborne

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Many families across Sussex will be breathing a sigh of relief this afternoon (Wednesday November 25) after Chancellor George Osborne performed a U-turn on controversial cuts to tax credits.

Mr Osborne had faced opposition from opposition parties and the House of Lords, which last month voted to delay the planned cuts.

In today’s Spending Review, the chancellor told MPs improved public finances had enabled him to scrap the planned phasing of cuts altogether.

However, analysts have warned that the introduction of Universal Credit - and changes associated with it - could still see families losing out in 2020.

Elsewhere, councils face losing a sizeable chunk of funding, with the phasing out of the government’s support grant over the course of the parliament.

This, Mr Osborne said, would be tempered by proposals for authorities to keep business rates collected locally.

He said his vision represented a ‘revolution’ in the way the country was governed, with new powers but ‘new responsibilities’.

What do you think? Let us know your views by commenting below.

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