e-briefing on Autumn Statement – Osborne forced to abandon savage tax credit cuts

e-briefing_UKAutumnStatement_Nov2015-thumbnaile-briefing_UKAutumnStatement_Nov2015 PDF

“The UK highlights include the abandonment of the savage Tax Credit cuts, following the government’s defeat in the House of Lords. Higher tax receipts and lower borrowing costs helped meet this cost. However, from 2018 claimants will switch to the new Universal Credit and we will need to ensure this isn’t used as a means of reinstating the Tax Credit cut. ”

“The impact of today’s announcement on Scotland is an average real terms cut in the Scottish budget of 1.3% per year. A detail entirely missing from the Scotland Office press release! In addition, public bodies will have to find the cost of the increase in employers National Insurance contributions that the Chancellor announced last year. Plus increasing demands on services and other costs.”

See PDF Briefing for more: