Who wins and who loses in the tax and benefit shake-up?

Tax and benefit changes have come into force across Britain, as part of the government's programme to tackle the deficit.

There will be changes to child benefit, tax credits and a rise in the threshold at which people start paying tax on their income.

The Treasury claims the poorest 80% of households will be better off because of today's changes but Shadow Chancellor Ed Balls has dubbed it 'black Wednesday'.

Simon Gompertz reports.