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The right to die
Plans to cut tax credits interrupt the Tories’ courtship of the working poor
TENS of thousands of anti-austerity demonstrators marched past his front door in London on June 20th, but David Cameron appeared not to be listening. Two days later, in a speech in Cheshire, the prime minister hinted at how he plans to cut £12 billion ($19 billion) from the welfare budget, to help close the £75 billion (4% of GDP) deficit by 2018-19. In the crosshairs are top-ups for the working poor, known as tax credits.
Plans already announced to freeze benefits until 2017-18 and reduce the annual household benefit cap from £26,000 to £23,000 could save more than £1 billion a year, according to the Institute for Fiscal Studies (IFS), a think-tank. Tightening the rules on disability benefits and taxing them could save another £1.5 billion. But after ring-fencing pensions and child benefit, two of the biggest chunks of the £220-billion annual welfare bill, Mr Cameron is left with only about £110 …
Read more here:: Welfare reform: No funfair