During Wales Questions in the House of Commons, I questioned the government on the shocking statistics that show 44,600 working families in North Wales will lose £1,300 on average next year because of Working Tax Credit cuts. That’s a total of 206,000 across Wales.
This will amount to nearly £58 million being taken out of the pockets of families across North Wales. The government continue to argue that their new National Living Wage will more than recompense for this dramatic loss of income. However, the independent Institute for Fiscal Studies believe that to be “arithmetically impossible.”
The more we learn about the governments cuts to Working Tax Credits the worse it gets. These shocking figures demonstrate one of the many reasons why people in North Wales are being let down by the UK government.
Not only will these cuts take away £1,300 on average from working families, which is a huge amount, it will remove nearly £58 million from the North Wales economy. That’s money taken out of local shops and business and will have a real impact. I will continue to stand up to these cuts as Working Tax Credits are vital for thousands of families.
The next Labour government will reverse these cuts. Restoring a vital stream of income for hundreds of thousands of families across the UK.