The Tories have repeatedly failed to rule out cuts to Child Benefit and Tax Credits if they are re-elected – cuts which would hit family budgets in the East Midlands.
The Tories extreme cuts plans – cutting faster in the next three years than they have in the last five – mean they will cut the NHS and threaten family budgets. In order to make their sums add up they will cut Child Benefit and Tax Credits.
The Tory plans mean they will:
- Cut Child Benefit, meaning 4.3 million families would lose £1,100 a year - 542,575 families in East Midlands rely on Child Benefit.
- Cut £3.8 billion from the Tax Credits working families rely on, which will mean families with one child will lose Tax Credits when their incomes hit £23,000 a year, leaving them over £1,600 a year worse off. 338,000 families in the East Midlands receive Tax Credits.
Labour’s Shadow Chancellor, Ed Balls, said: “During the last few days the Tories have repeatedly refused to rule out cutting child benefit and tax credits again after the next election - which will hit the budgets of families in every region across the UK, including 880,575 in the East Midlands.
“People now know there is a big choice to be made this Thursday – an extreme Tory plan which will cost families or Labour’s better plan which will put working families first.
“Labour will protect child benefit and tax credits, ensuring millions of families don’t end up worse off. Working people in the East Midlands can’t afford to take the risk of five more years of the Tories.”