TORY Chancellor Rishi Sunak is allegedly planning to cut benefits that will be “even deeper” than former Tory Chancellor George Osborne who slashed benefits in 2015.
The cuts in 2015 meant that 3.3 million working families were on track to lose an average of over £1,000 a year from April 2016.
The income of roughly twice as many families is at risk, with 12 million people set to have their income reduced by £20 a week from April 2021.
— Politicalite UK (@politicalite) October 27, 2020
This is principally because this time the cut will affect all recipients of Universal Credit or tax credits, whether they are working or not.
Planned cuts at around £8 billion will be twice as big as the £3.4 billion George Osborne intended back in 2015.
‘CUTS WOULD HIT MIDDLE AND LOW-INCOME FAMILIES
The fresh cuts to benefits planned for April 2021 stems from the ending of the time-limited increase to the basic rate of Universal Credit announced by the Chancellor in March as part of his pandemic response package.
The £20 a week boost reflected the reality that the level of benefits were not adequate to protect the swiftly increasing number of households relying on them as the crisis hit.
The Resolution Foundation revealed: “Exactly because that increase was a very significant and welcome move to bolster low- and middle-income families living standards, its removal will be a huge loss.”
“Pressing ahead would see the level of unemployment support fall to its lowest real-terms level since 1990-91, and its lowest ever relative to average earnings.”
NOT SO DISHI
RISHI Sunak was exposed yesterday in a viral social media clip claiming he had made “millions” working for Hedge Funds that allegedly “crashed the economy”.
The clip by new campaign group ‘One Rule For Them’ has been seen by over 350,000 people so far and asks whether the Chancellor is “On Your Side”.
The video invites the British public to take a look inside his “lavish Celebrity lifestyle” and claims that Mr Sunak owns an £8m California Beach House, a whole Country Estate and a Mansion in Kensington “to boot” the video adds “That’s what you can get making millions working for a hedge fund that helped crash the economy”.
The video adds that Mr Sunak has an “army” of spin doctors and personal brand consultants” and asks “what are they trying to hide?”.
There are also claims that the Ex-City banker is planning “big tax-cuts” for his “old mates in the City whilst slashing pay for Key workers who put their lives at risk for us” adding that it is a “betrayal” of those who have sacrificed the most.