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Tax Credits

Part of Opposition Day — [7th Allotted Day] – in the House of Commons at 6:10 pm on 20th October 2015.

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Photo of Huw Merriman Huw Merriman Conservative, Bexhill and Battle 6:10 pm, 20th October 2015

I have the greatest concern for anyone who loses out and finds that these measures have an impact on their household budget. I came into this place not to reduce incomes but to see them increase. However, in making good our manifesto commitment, savings in Government spending were always going to have to be made, with a proportion of our population unfortunately being affected by the need to make them.

Ultimately, I feel that it is right to introduce this measure to reduce tax credits for the following reasons. First, it moves the country away from a position in which Government and taxpayers subsidise the wage bills of employers, acting as a disincentive to pay rises. Secondly, as a cost-saving measure it moves the country to a position where the books are balanced and we can reduce the interest bill on Government debt.