Today news
About the same in other media
Millions will not benefit from Sunak’s ‘tax cut for low paid’, say activists
Reading now: 842
Millions of struggling low-income households will not benefit from the £2bn “tax cut for the low paid” announced by the chancellor in the budget as a way of easing the pain of soaring living costs, according to campaigners.
The reduction from 63p in the pound to 55p in the universal credit taper rate – the amount in benefits a claimant loses for each pound they earn above a set work allowance – was intended to soften the blow of the withdrawal this month of the £20 a week universal credit uplift.
Calling it a “tax cut for low-paid families”, the Rishi Sunak said about two million qualifying households would be at least £1,000 a year better off. He also announced a £500 boost to the work allowance and confirmed a 6.6% rise in the “national
Read more on theguardian.comAbout this in other media
Low tax v levelling up: the Tories’ policy tensions will not go away theguardian.com /2 years ago
Democrats Consider Tax Cuts for Many High Earners in New York, New Jersey and California wsj.com /2 years ago
U.K., Canada Lead West in Weaning Economies Off Covid-19 Pandemic Support wsj.com /2 years ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
