4200 families in Stroud will lose out under Conservative plans to cut tax credits
Figures produced by the House of Commons Library show over three million low-income working families currently in receipt of tax credits will see their entitlement reduced, as part of the Government's proposals.
With the average family losing £750 a year the change will mean a total loss of £ 4,000,000 to families in the Stroud Constituency
Despite claims from the Conservatives that those affected will benefit from plans to increase the minimum wage, the independent Institute for Fiscal Studies has said Tory figures don't stack up.
IFS analysis shows a £750 average loss will only be offset by £200 as a result of the new minimum wage.
Liberal Democrats have opposed the move and said it undermines the work of the Coalition Government, to make sure it always pays more to be in work than on benefits.
Adrian Walker-Smith, Liberal Democrat candidate at the last election said said:
"The changes to tax credits will put a financial strain in thousand of families in Stroud and the other towns and villages in the constituency. The move undermines any claim the Government has of being on the side of working families. Their own MPs are telling the Government that supporting low income families through a minimum wage increase nowhere near make up for these cuts.
"I am pleased that Lib Dems are opposing this measure. We worked hard in Coalition to ensure that work would always pay more than choosing to remain on benefits. It is a disgrace the Conservatives are now undermining this good work."