Response to Resolution Foundation research - Malhotra
Seema Malhotra MP, Shadow Chief Secretary to the Treasury, commenting on new research from the Resolution Foundation that shows mitigations to tax credits - short of a full reversal - will be expensive and still leave millions of families worse off, said:
“This is a damning report for George Osborne and David Cameron. I welcome the Resolution Foundation’s conclusions, which support Labour’s argument that reversing the tax credit cuts in full is the fairest way of protecting the incomes of millions of low and middle income working families.
“The 3.2 million working families who stand to lose an average of £1,300 a year under the tax credits cuts now know that the only way they won’t be worse off is if Osborne reverses these proposed cuts in his Autumn Statement.
“Now is the time to put party politics aside and do the right thing for millions of British workers and their families. George Osborne should adopt Labour and the Resolution Foundation’s position and reverse his tax credit cuts, abandon his inheritance and corporation tax plans cuts and accept a lower surplus target. If he does that we will support his decision.”
(via labourpress)
