Secret Tory plans will cost Croydon families £550 a year

Steve Reed has condemned secret Tory plans to cut working families’ tax credits after David Cameron refused to rule out swingeing cuts if the Conservatives win the election.

Thousands of working families in Croydon could be at risk of a cut in tax credits and child benefit and see their incomes fall by at least £550 a year under Tory plans.

David Cameron has admitted plotting a massive £12bn cut to the welfare budget but refuses to say exactly where the cuts will be made. Expert analysis of Tory spending plans shows that the proposed welfare cut will mean another raid on tax credits, cutting them by £3.8bn a year.

Labour will protect family budgets by increasing tax credits at least in line with inflation every year.

Steve Reed said: “David Cameron said before the last election that he wouldn’t cut tax credits – but then he did. Now he is refusing to rule out further cuts to tax credits and child benefit. Ministers in his own Government have revealed secret plans to cut child benefit that he tried to hush up.

“Only a Labour government will protect the incomes of thousands of families in Croydon and take action on the cost of living crisis because we know that Britain only succeeds when working people succeed.”