Tory retreat on tax credits?
Chancellor of the Exchequer George Osborne will set out the Government's tax and spending plans when he delivers the annual Autumn Statement to the House of Commons on 25 November. As well as outlining how the Government intends to meet its target of cutting an extra £20 billion from public spending by 2019-20, the equivalent of Departmental budgets falling by between twenty-five and forty per cent over the next five years, Osborne is also expected to list ways in which the Treasury will look to minimise the impact of the £4.4 billion in cuts to tax credits paid to low-paid and part-time...