Good suggestions here by Alan Milburn – Osborne take note….
Tax credits – Osborne urged to scrap tax cuts for higher earners
The Commission on Social Mobility and Child Poverty has submitted a list of measures the Chancellor could take to save money and avoid hitting working families with tax credit cuts. The Commission, chaired by Alan Milburn, suggested scrapping plans for income tax cuts for people on the 40p higher rate; postponing plans to raise the threshold for the 40p rate to £50,000 a year by 2020; stopping higher rate taxpayers benefitting from the rise in the personal tax allowance to £12,500 by 2020; restricting child benefit to families with no-one earning more than £50,000 a year; limiting tax-free child care to those earning £60,000 rather than £150,000 a year and scrapping a £900m-a-year cut in inheritance tax. Means-testing pensioners’ winter fuel allowances and free TV licences were also suggested. Mr Milburn said that although the Commission recognises Mr Osborne’s manifesto commitments, “we believe the priority for action should be working families with young children.”
This blog is for UNICEF.
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