Q&A: Tax credits explained - BBC News
The government says it needs to find a further £12bn in savings from the annual welfare bill to meet its goal of balancing the books by 2017-18.
[h=2]How many people claim them?[/h]About 4.5 million, 4 million of whom have children. People may be eligible, broadly, if they earn less than £32,969. If a person's income is below this level and they also have children they'll be eligible for child tax credit. Eligibility for working tax credit depends on how many hours a person works.
[h=2]What effect would that have on child poverty?[/h]The Institute for Fiscal Studies estimates that the number of children living in poverty has increased in the last three years from 2.3 million to 2.5 million. It estimates that the measure outlined above would increase that to 2.8 million.
The government says it needs to find a further £12bn in savings from the annual welfare bill to meet its goal of balancing the books by 2017-18.
[h=2]How many people claim them?[/h]About 4.5 million, 4 million of whom have children. People may be eligible, broadly, if they earn less than £32,969. If a person's income is below this level and they also have children they'll be eligible for child tax credit. Eligibility for working tax credit depends on how many hours a person works.
[h=2]What effect would that have on child poverty?[/h]The Institute for Fiscal Studies estimates that the number of children living in poverty has increased in the last three years from 2.3 million to 2.5 million. It estimates that the measure outlined above would increase that to 2.8 million.