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Re: Cameron lied to get back in (tax credits and hard working people)
Good (imho) article on this by Robert Peston.
http://www.bbc.co.uk/news/business-34637068
He makes an interesting, and very (again, imho) relevant point -
Quote:
All of which points to the biggest oddity of the reforms.
George Osborne could have made them much less contentious if all four elements applied only to new claimants.
Of course, the yield to the Exchequer would have been significantly less for two or three years.
But, because the earnings of many of today's claimants will in time rise above the maximum threshold, the long-term savings would have been almost identical to the current proposal.
Or to put it another way, the government's deficit would be reduced at a slower rate; there would have been £3bn or £4bn less of a reduction for the next couple of years, but thereafter the pace of deficit squeeze would have accelerated.
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