All 18 results for tax credits segment:23165636

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Opposition Day — [6th Allotted Day]: National Minimum Wage (15 Oct 2014)

Rachel Reeves: ...shifts a day as a cleaner to support her family, but ended up trying to survive on rolled over payday loans and had to come to me to ask for food vouchers because she had to wait months for the tax credits she was entitled to. Our welfare state was built to protect working people who fell on hard times, not to provide a permanent subsidy to profitable companies paying poverty wages. That...

Opposition Day — [6th Allotted Day]: National Minimum Wage (15 Oct 2014)

Julie Hilling: ...are people £1,600 a year worse off on average, but the loss of the real value of the minimum wage since 2010 has cost an additional £270 million in extra public spending on in-work benefits and tax credits in the last year alone. Every time an employer does not pay his or her employee enough to live on, it costs every taxpayer money. I appreciate that some small businesses struggle to...

Opposition Day — [6th Allotted Day]: National Minimum Wage (15 Oct 2014)

Richard Fuller: ...from both sides of the House are too limited to meet the challenges that the economy faces. The first reason is that we are living through an era of massive corporate welfare. Vast sums of taxpayers’ money are funnelled into our private sector—or so-called private sector—companies year in, year out. One of the most substantial amounts of corporate welfare each year is paid out in the...

Opposition Day — [6th Allotted Day]: National Minimum Wage (15 Oct 2014)

Russell Brown: ...on the privatised utilities, which allowed us to introduce the new deal programme for young unemployed people, the long-term unemployed, the disabled and lone parents, and then we introduced the tax credits system. It was about pulling together two or three strands to make things work, and that led to a step change in people’s standards of living.

Opposition Day — [6th Allotted Day]: National Minimum Wage (15 Oct 2014)

Russell Brown: I refer to the coalition Government in that regard—credit where credit is due—and I will come to that point later. With regard to the reduced levels of unemployment, we need to look at the figures from the Office for National Statistics for the weekly average number of hours worked across the country and compare them with the number of people working over the past 12 to 18 months....

Opposition Day — [6th Allotted Day]: National Minimum Wage (15 Oct 2014)

Russell Brown: ...employers to pay the living wage through new ‘Make Work Pay’ contracts. Firms which sign up to become Living Wage employers in the first year of the next Parliament will benefit from a 12-month tax rebate of up to £1,000—and an average of £445—for every low paid worker who gets a pay rise. This measure will be entirely funded from the increased tax and National Insurance revenue...

Opposition Day — [6th Allotted Day]: National Minimum Wage (15 Oct 2014)

Richard Fuller: Many of the employees on those low incomes are obtaining tax credits, which increases the amount of money they have at their disposal, with the companies therefore benefiting from the subsidy those tax credits provide. What is Labour’s policy on tax credits?

Opposition Day — [6th Allotted Day]: National Minimum Wage (15 Oct 2014)

Karen Buck: I will talk about tax credits in a moment, because they are extremely important, but, as we have heard from Labour Members, there is no excuse for tax credits being a substitute for employers paying a decent wage. The number of people paid below the living wage rose in the past year from 4.6 million to 5 million, so we have seen that problem getting worse. I want to talk a little about...

Opposition Day — [6th Allotted Day]: National Minimum Wage (15 Oct 2014)

Karen Buck: ...in the local economy; they spend it, and that has a beneficial effect on the shops, services and communities where they live. It also means that some of those people who would have been paying tax are no longer doing so, which has a beneficial effect for low-paid people coming out of tax but means that total tax revenues are undershooting dramatically, as the Office for Budget...

Opposition Day — [6th Allotted Day]: National Minimum Wage (15 Oct 2014)

Richard Fuller: The hon. Lady rightly says that tax credits are a necessary policy addition to tax thresholds We are clear what the Government’s policy is on tax credits, but can she tell us what Labour’s policy is on them for the next five years?

Opposition Day — [6th Allotted Day]: National Minimum Wage (15 Oct 2014)

Karen Buck: ...to do in that area. We are yet to have any specific proposals brought to this House and we will consider them when they are put in front of us. When we were asked to vote in favour of a freeze on tax credits—[Interruption.]

Opposition Day — [6th Allotted Day]: National Minimum Wage (15 Oct 2014)

Karen Buck: When we were asked to consider what the Government’s freeze on tax credits was going to do in the earlier part of this year, we drew attention to exactly that fact and opposed the Government on that particular freeze for this year because we knew it would hit working people. We hear all the rhetoric from the Conservatives about work incentives, but we do not hear what impact that has on...

Opposition Day — [6th Allotted Day]: National Minimum Wage (15 Oct 2014)

Richard Fuller: ...is important that we do not try to sell them this idea that an increase in their wage will necessarily lead to an increase in their full income unless we are clear about what the policy will be on tax credits?

Opposition Day — [6th Allotted Day]: National Minimum Wage (15 Oct 2014)

Karen Buck: ..., those proposals that are put in front of us. They will not necessarily be the proposals that have been put in front of us by a Conservative party conference. It is extremely important to look at tax credits in the round as well as at other changes to the tax system to ensure that we are helping not just those on low incomes through tax thresholds but those who have children so that they...

Opposition Day — [6th Allotted Day]: National Minimum Wage (15 Oct 2014)

Richard Fuller: My right hon. Friend has rightly talked about post-tax income, but for people on low incomes, what matters is post-tax and post-benefit take-home disposable income. The shadow Secretary of State did not say what his policies would be on tax credits. Does he agree that that is an important part of the debate about how we improve living standards?

Opposition Day — [6th Allotted Day]: National Minimum Wage (15 Oct 2014)

Chuka Umunna: ...and are on average £1,600 a year worse off; recognises that the fall in the real value of the minimum wage since 2010 is now costing the public purse £270 million a year in additional benefit and tax credit payments; further notes that the Chancellor of the Exchequer cruelly misled working people by saying he wanted to see a minimum wage of £7 while the Government has no plans to reach...

Opposition Day — [6th Allotted Day]: National Minimum Wage (15 Oct 2014)

Chuka Umunna: ...that that will benefit businesses and improve the public finances—the fall in the real value of the minimum wage since 2010 now costs the Exchequer £270 million a year in additional benefit and tax credit payments, a point that my hon. Friend the Member for Leeds West (Rachel Reeves), the shadow Work and Pensions Secretary, will build on later.

Opposition Day — [6th Allotted Day]: National Minimum Wage (15 Oct 2014)

Chuka Umunna: ...to pay the living wage through new “make work pay” contracts. Firms that sign up to becoming living wage employers in the first year of the next Parliament will benefit from a 12-month tax rebate of up to £1,000, and an average of £445, for every low-paid worker who gets a pay rise. This will help firms towards a higher-productivity, higher-wage model. The measure will be funded...


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