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Proceeding contribution from Danny Alexander (Liberal Democrat) in the House of Commons on Monday, 16 April 2012. It occurred during Debate on bill on Finance (No. 4) Bill.

Finance (No. 4) Bill

I explained in the Budget debate that reforms to tax credits were necessary to deal with the rapidly growing cost of a system that had started out costing £18 billion a year and was now costing £30 billion. It will still cost about £30 billion, but that money will be more focused on those on lower incomes. When we first came into office, we inherited a tax credit system that could pay tax credits to people on £50,000 or £60,000 a year—

Secondary information

Type
Proceeding contribution
Reference
543 c34-5 
Session
2010-12
Chamber / Committee
House of Commons chamber
Subjects
Child benefit Alcoholic drinks Charities Business Corporation tax Banks Caravans Air passenger duty Housing Donors Income tax Excise duties Fuels Fiscal policy Economic situation Foreign companies Pension credit Personal income Pensioners Low incomes Pensions Prices Welfare tax credits Small businesses Tax allowances Tax avoidance Taxation VAT Stamp duties Tax rates and bands Stamp duty land tax Age allowances
Legislation
Finance Bill 2010-12 to 2012-13
Link
View this Proceeding contribution on www.publications.parliament.uk