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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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Signatories

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Currently ranked 43,517 out of 104,924 petitions ever created.

Diversity index: 100%

Status

Closed

Created By

Liz Lovatt

Created On

Tuesday 11 October 2011

Closing Date

Friday 19 October 2012

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