Coalition has ‘shifted money from poorest to better-off’ through welfare cuts and tax reductions, study claims

‘The Coalition government’s welfare cuts and tax reductions have transferred funds from the poorest to the pockets of the better-off, an academic study reveals.

The reductions in low-income and disability benefits financed tax breaks for the more financially privileged, although the richest were also hit, and this transfer of wealth made no net effect on public funds.

The groups hit hardest are single-parent families, large families, children and middle-aged parents, who make up the poorest 5 per cent of the country.
The most financially-disadvantaged experienced cuts of nearly 3 per cent of what they would have earned if Britain’s tax and welfare system of May 2010 was retained.’

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