Tax Credits

Working Tax Credits (WTC) are a state benefit made to working people on low pay so they can help make ends meet, with the basic amount being up to £1,960 a year.

 Child tax credits are paid to parents.

Britons can get them if they are either of the following:

• Aged from 16 to 24 and have a child or a qualifying disability

• Aged 25 or over, with or without children

The Conservative government wants to cut £4.4 billion off Britain's welfare bill by reducing working tax credits.

Mr Osborne (George) justified the changes in his last Budget speech by citing the fact that spending on tax credits has "more than trebled in real terms" since they were introduced in 1999,
"with total expenditure in 2014-15 estimated to be around £30 billion – an increase of almost £10 billion in real terms over the last 10 years".