The report found the wider impact of tax and benefit reforms since 2010 had reduced incomes for the poorest 40 and richest 10 of households.
Changes to tax and benefit policies have seen families with children lose out the most over the past 14 years, the Institute for Fiscal Studies said.
Parents who are out of work have seen the biggest fall in their incomes, with the IFS saying they had lost £5,500 per year, but in-work families had also seen their entitlements cut back. Among the changes affecting families with children are reductions in the level of child tax credits and the “two-child limit” that sees Universal Credit payments only made for a family’s first two children.On Friday, the Conservatives announced plans to raise the high-income child benefit tax charge threshold to £120,000, increasing the number of higher-earning families that would qualify for support.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fact check: Labour has not been in charge of immigration policy since 2010Senior Labour figures have previously called for more relaxed immigration policies, but these have not been put into practice.
Read more »
Fact check: Labour has not been in charge of immigration policy since 2010Senior Labour figures have previously called for more relaxed immigration policies, but these have not been put into practice.
Read more »
Essex charged over alleged ‘systemic’ racism between 2001 and 2010Essex said they had fully co-operated with the Cricket Regulator.
Read more »
Essex charged over alleged ‘systemic’ racism between 2001 and 2010Essex said they had fully co-operated with the Cricket Regulator.
Read more »
Youth Cup glory for Young Binos as 2010 side make Stirling history in finalThey prevailed over Edinburgh's Lochend Football Academy by a single goal in Airdrie last weekend.
Read more »
On this day in 2010: West Ham sack manager Gianfranco ZolaThe Italy great had become the Hammers’ first overseas-born manager in September 2008.
Read more »