Resolution Foundation warns that pushing ahead with tweaked proposals on tax credits would be expensive and still leave most families worse off

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Tax and Welfare

New research shows the Treasury could reverse the most damaging tax credit cuts and still meet key fiscal objectives The government has several options for funding a reversal of its planned tax credit cuts, but pushing ahead with tweaked proposals would be expensive, leave millions of families worse off,  and produce perverse work incentives, according … Continued

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Universal Credit red tape cull needed to help parents and the self-employed

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Tax and Welfare

Making Universal Credit (UC) easier to use could boost employment and prevent the risk of penalising families whose earnings and outgoings don’t fit into a neat monthly pattern, according to a new report published today (Monday) by the Resolution Foundation. The think-tank’s nine-month review of Universal Credit considers how the once-in-a-generation welfare reform is equipped … Continued

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Working families could become ‘second class savers’ under Universal Credit

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Tax and Welfare

Working families moving onto Universal Credit could become ‘second class savers’, with any money put aside potentially counting against their benefit entitlement, according to a new report to be published on Monday (8 June) by the independent think-tank the Resolution Foundation. Making it work – the final report of a nine-month review of Universal Credit … Continued

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Reboot of Universal Credit needed to meet welfare challenges of next decade

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Tax and Welfare

  Far-reaching reforms of Universal Credit (UC) would help hundreds of thousands more people into work and bring significant cash benefits to working families with children, according to a new report published today (Monday) by the independent think-tank the Resolution Foundation. Making it work – the final report of a nine-month review of Universal Credit … Continued

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No evidence that tax credits surpress wages, says think tank

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Tax and Welfare

There is no evidence that tax credits hold down low wages, according to new research published today by independent think tank the Resolution Foundation. The analysis discredits the assumption that tax credits, available to low and middle income families, enable employers to pay lower wages. Tax credits reach around six million families, providing substantial support … Continued

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Black Friday as Chancellor wields cuts to tax credits

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Tax and Welfare

Thousands of low income working families will lose up to a quarter of their household income from this Friday, the start of the new tax year, as major cuts to tax credits start to bite. In particular, low to middle income couples working less than 24 hours will no longer be eligible for working tax … Continued

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