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Written question asked by Alex Cunningham (Labour) on Wednesday, 19 January 2011, in the House of Commons. It was due for an answer on Friday, 21 January 2011. It was answered by Justine Greening (Conservative) on Monday, 28 February 2011 on behalf of the Treasury.

Welfare Tax Credits: Uprating

Question
To ask the Chancellor of the Exchequer what savings to the public purse his Department expects to make as a result of using the consumer prices index for the uprating of tax credits in (a) 2015-16 and (b) each of the subsequent five years.
Answer

This measure was part of a package of changes announced at the June Budget 2010. The costing was updated at the spending review and is given in the following table:

Saving to the Exchequer (£ million)
2011-12 305
2012-13 405
2013-14 950
2014-15 1,390
2015-16 1,990

The costing does not take account of the various other measures announced in the June Budget and spending review 2010 since it was first costed as part of the overall package.Estimates beyond 201 5-16 are unavailable.

Secondary information

Type
Written question
Reference
35882; 524 c41-2W
Session
2010-12
Subjects
Welfare tax credits Uprating
Contains statistics
Yes
Link
View this Written question on www.publications.parliament.uk