Before the General Election in May there was a leaked document that said the Conservatives, if they won the election, would make £12 billion worth of cuts, something they neither confirmed or denied. saying that it was not relevant to explain where any cuts would fall until after the election.
'When we are right and we are ready, we will talk about what we plan to do' was the standard answer as questions were raised before the election regarding just where the £12 billion cuts would come from.
Seems we found out because before the dust had even settled, it was announced that the axe would fall on Tax Credits which top up the wages of those on low wages with the result being three million low-paid families losing more than £1,000 a year.
The Government argue that this is vital to reduce the welfare bill and cut the deficit and would be offset by other changes, such as increases in the personal tax allowance and the National Living Wage.
Considering the cuts come into force in April 2016 but the raised National Living Wage not until April 2020, it does seem the Government are trying to pull a fast one because a four year gap before one offsetting the other doesn't seem particularly kind.
Especially as it is hitting those in work who will be looking at a pretty drastic drop in their income until 2020 and then they will only be bought back up to the standard they are at today meaning in 2020 they will be back to where they were in 2015.
While a portion of their own party are warning it would have an adverse effect and the Institute for Financial Studies has warned it would force the poorest further into debt, the Government are powering on and in a wonderful piece of timing, the letters going out to advise recipients how much their tax Credits will be reduced by are being sent out in December, just before Christmas.
They are not called the nasty party for nothing and this lot seem to be surpassing even the Thatcher Government in the nastiness stakes.
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