IFS says people will not be better off after tax credits cutspublished at 12:24
The Institute of Fiscal Studies (IFS) says most people will not be better off overall. James Brown from IFS said on The Daily Politics that these were very big reductions in tax credits entitlements averaging about £1,100 per household, and most people will not have anything to offset the loss of money. (The government says that the tax credit changes need to be looked at in the wider context of the rise in tax thresholds, free childcare and the rise in the minimum wage will mean people won't lose out)