The government is considering reducing tax credits for millions of working families as part of its ?12bn welfare cuts, the BBC understands.
Allies of George Osborne are studying an Institute for Fiscal Studies idea to return tax credits to 2003/4 levels, plus inflation - saving ?5bn.
Changes would cut entitlements for about 3.7 million low-income families by about ?1,400 a year, the IFS said.
Political allies of Mr Osborne say the move would increase incentives to work.
Sorry in one breath reduce the tax credits of working families and in the next the move would increase incentives to work. In what twisted world does that logic work then? cking idiots
Allies of George Osborne are studying an Institute for Fiscal Studies idea to return tax credits to 2003/4 levels, plus inflation - saving ?5bn.
Changes would cut entitlements for about 3.7 million low-income families by about ?1,400 a year, the IFS said.
Political allies of Mr Osborne say the move would increase incentives to work.
Sorry in one breath reduce the tax credits of working families and in the next the move would increase incentives to work. In what twisted world does that logic work then? cking idiots

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