A Budget for workers? The impact of the Summer Budget on work incentives in Universal Credit

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Public Finances and the Economy, Tax and Welfare

The combination of increases in the minimum wage (via the introduction of a National Living Wage), cuts to income tax and sharp reductions in working-age welfare presented in the Summer Budget produces a complex mix of winners and losers. Those not currently in receipt of benefits and tax credits (or Universal Credit) are likely to … Continued

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Counting the Costs of Childcare

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Tax and Welfare

Counting the Costs of Childcare finds that high childcare costs mean that a woman working full-time could bring home as little as £4 a week in extra pay. In the most extreme case, a second earner working full-time at the minimum wage in a family where her partner is already working full-time at the same … Continued

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Creditworthy: Assessing the impact of tax credits in the last decade and considering what this means for Universal Credit

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Tax and Welfare

Creditworthy assesses the direct and indirect impacts of tax credits, finding that there is no evidence that tax credits hold down low wages. 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 for … Continued

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Detailed post-2012 Budget analysis

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Public Finances and the Economy

Detailed analysis of the 2012 Budget by the Resolution Foundation. It includes: the impact of the main upcoming changes to tax, tax credits and benefits compares the impact of changes to the personal tax allowance and tax credits the impact on four different families.

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