Raise Tax Credits threshold to boost economy
Increase tax credits from incomes below £40,000 to less than £55,000 to increase the level of disposable income for families living with 'hidden poverty' in middle incomes. These families have faced massive increases in food, fuel, utility costs & childcare. It is unsustainable and only putting greater pressure on a fragile economy.
Many are unable to invest in a pension as there is no money left to plan for the future.Quantative easing has
only increased future concerns as it has lead to
a fall in future pension values.
Boost the economy by increasing the spending
power of middle income households.
Obtain savings by abolishing family allowance
for all families earning above £60, 000. Link tax credit payments directly to payroll tax adjustments to avoid human error and unnecessary duplication and the reliance on individual updates.
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