David Rees AM and Mike Hedges AM warn that Tory Tax Credit Cut will hit families in the wallet.

Tory changes to Tax Credits could cost people in Aberavon and Swansea East as much as £3,000 a year. That is the warning from David Rees AM and Mike Hedges AM.

The local AM’s are concerned that the UK Government’s decision to impose the cut of around 10% to the monthly income of local working families on low incomes will have a real impact on their living standards, the life chances of children growing up in these households and the local economy.

The changes will affect three million working families across the UK. In Aberavon, around 5,000 families will be affected and in Swansea East 7,400 families will be affected. Figures show that families will be on average £1,300 worse off but that some will be up to £3,000 worse off.

David Rees and Mike Hedges are encouraging local people to join the campaign against these changes by signing the petition at labour.org.uk/taxcredits or getting in touch for a paper copy.

David Rees AM said: “Tax Credits are designed to ensure that work pays. Cutting them undermines the value of work, and means that the Government is penalising those who work hard day after day just to get by. I am asking residents to join me in sending a clear message to the Tories that these cuts to working people’s living standards are unacceptable.”

While Mike Hedges AM added “This is another example of how the Tories are making working families bear the brunt of deficit reduction while some of the wealthiest people in the country have received a tax cut.”

***ENDS***

 Editors Notes:

• All Figures quoted in this article are from the House of Commons Library.

• HOC library research show that on average working families will be on average £1300 worse off.