Tax Credits

martinsurrey

andrewmp wrote: »

Aye, the weather and climate is terrible in this area. Maybe the recovery will hit here (the north east) soon.

its not all grim up north ;-)

I was brough up in that neck of the woods

beecher2

jimibaboza wrote: »

I'm a little confused by this. Does that mean a couple with two kids with a joint income of 11K will get about 15K a year in tax cradits?

And if you were a single person you'd also have the child maintenance from the absent parent.

antrobus

Moby wrote: »

So tax credit reform is symbolic of us all living within our means and part of a bigger package! Really?
http://www.theguardian.com/commentisfree/2015/oct/28/2008-crash-government-economic-growth-budgetary-surplus

Further to previous responses.

If, as the author claims, "each surplus is followed, within a certain number of years, by an equal and opposite recession", why isn't Norway suffering from the mother of all depressions? Apart from the years 1992 and 1993, the Norwegian government has consistently run a surplus since at least 1960, and should therefore be well and truly stuffed by now.:)

jacko74

My only experience of tax credits is I know of several colleagues in my workplace who refuse to work more than 20 hrs per week, as it would impact on their tax credits, despite permanent, full-time positions being available.

One of them has just got back off their third foreign holiday this year... glad to see the 'working poor' are being so well looked after.

MFW_ASAP

jacko74 wrote: »

My only experience of tax credits is I know of several colleagues in my workplace who refuse to work more than 20 hrs per week, as it would impact on their tax credits, despite permanent, full-time positions being available.

One of them has just got back off their third foreign holiday this year... glad to see the 'working poor' are being so well looked after.

I wish the PM at PMQ actually ased for the full information on Corbyn's letter writers. I'm sure he'd get less popular support if the truth came out....

Corbyn: "I have a letter from Jenny about tax credits. She decided to give up her full-time £12k a year job as a cleaner in order to take care of her children. She now earns £15k as a SAHM but the tax credit changes willl mean she is going to lose £1k a year. How is this fair"

PM: "Well, she is still 'earning' £2k more than she did when she works full time, and £2k more than the full-time work colleagues she left behind. Perhaps she should keep her mouth shut and enjoy being paid more for watching daytime TV than she did in her full-time job?"

Corbyn: "Well you've just destroyed my argument. It reminds me of the days when Dithering Dad used to put his MSE forum opponents to the sword on the Economy thread. "

Corbyn: "Can the PM confirm that Dithering Dad, AKA MFW_ASAP now writing the PMs answers? If so, it's unfair because he is by far the most accomplished debater person in the land!"

zagfles

MFW_ASAP wrote: »

I wish the PM at PMQ actually ased for the full information on Corbyn's letter writers. I'm sure he'd get less popular support if the truth came out....

Corbyn: "I have a letter from Jenny about tax credits. She decided to give up her full-time £12k a year job as a cleaner in order to take care of her children. She now earns £15k as a SAHM but the tax credit changes willl mean she is going to lose £1k a year. How is this fair"

PM: "Well, she is still 'earning' £2k more than she did when she works full time, and £2k more than the full-time work colleagues she left behind. Perhaps she should keep her mouth shut and enjoy being paid more for watching daytime TV than she did in her full-time job?"

Corbyn: "Well you've just destroyed my argument. It reminds me of the days when Dithering Dad used to put his MSE forum opponents to the sword on the Economy thread. "

Corbyn: "Can the PM confirm that Dithering Dad, AKA MFW_ASAP now writing the PMs answers? If so, it's unfair because he is by far the most accomplished debater person in the land!"

Except those figures make no sense at all. Virtually nobody will "earn" more as a SAHM than if they worked.

But doing a before and after narrative could win the Tories the propaganda war. Instead of refusing to admit some people will lose out, of course some people will lose out.

Saying someone on £11k is going to lose £1500 sounds really bad. Saying they'll see their tax credits drop from £9000 to £7500 sounds nowhere near as bad, and it highlights the levels of tax credits people are getting now.

Mistermeaner

I'm shocked by the numbers in the link re the amount of tax credits. To turn that into a salary you need to add 1/3 to the right hand column (to add tax and ni on as if was earned) then add it to the left column = annual equivalent salary. Also doesnt include child benefit, housing benefit, free school meals, reduced expenses of not working properly etc

Beats working (full time in a proper job)

Mistermeaner

Fag packet maths; please check my understanding and calcs....

Example a person with 2kids earning 10k per annum working 16 hrs a week will receive an equivalent of 39k annual salary (approx 33k after tax) . They keep all 10k they earn, get approx 21k of tax free cash and 2k in child benefit. They are also elligible for housing benefit to live rent free and would get prioritised for council housing along with all the other jazz.

andrewmp

Mistermeaner wrote: »

Fag packet maths; please check my understanding and calcs....

Example a person with 2kids earning 10k per annum working 16 hrs a week will receive an equivalent of 39k annual salary (approx 33k after tax) . They keep all 10k they earn, get approx 21k of tax free cash and 2k in child benefit. They are also elligible for housing benefit to live rent free and would get prioritised for council housing along with all the other jazz.

That's incorrect.

Mistermeaner

andrewmp wrote: »

That's incorrect.

Could you explain how it works?