By 2015, The Prime Minister says, the Government will be paying £70bn a year in interest to service the deficit.
The Prime Minister named and shamed DWP for raising benefit spending by £20bn (giving some families up to £93,000 in Housing Benefit a year),
Measures that are being considered by the Coalition include;
- Freezing all benefits for 12 months from 2011; this would raise £4.1 billion.
- Implementing the Lib/Dem pledge to axe Child Tax Credits for couples on a joint income of more than £26,000: saving more than £1 billion a year.
£26,000 is hardly a princely sum and it is far below the national average salary.
This sounds like ‘Robbing the poor to pay the poor’
One ray of light is that ministers have ruled out means-testing child benefits and winter fuel payments.
Also..
Public sector workers earning more than £18,000 a year already face a pay freeze in 2011 and the emergency budget on June 22nd is likely to unveil further curbs in wage rises beyond 2011.
Other news..
