Labour will make fairer choices. Labour will reverse the Tory tax break for millionaires, worth £3 billion, and introduce a mansion tax on properties worth over £2 million. Labour will ensure that Tax Credits rise in line with inflation and protect child benefit.
Millions of family budgets are at risk from Tory plans to make cuts to child benefit and Tax Credits that working families rely on.
The Tory plan to make cuts to child benefit would cost families £1,000 a year.
Analysis of Tory plans show that they will also cut tax credits by £3.8 billion a year. This means families with one child would lose £1,600 a year once their incomes go over £23,000 a year, and families with two children will lose £2,000 a year once their incomes go over £29,000.
Labour will make fairer choices. Labour will reverse the Tory tax break for millionaires, worth £3 billion, and introduce a mansion tax on properties worth over £2 million. Labour will ensure that Tax Credits rise in line with inflation and protect child benefit.
Commenting on the Tory plans, Anne Snelgrove said: “Child benefit and tax credits are now on the ballot paper next week. Labour will protect them, but families in Swindon know the Tories cut them again.”