As tax credit changes took effect earlier this month, the TUC updated its tax credit calculator to help parents find out how much they stood to lose from the reforms.
The calculator shows that a dual earner family with incomes of £25,000 and £15,000, two young children, and with £300 a week childcare costs for 45 weeks annually would stand to lose over £3,000 a year by 2015/16.
Meanwhile, the TUC described the cut in top-rate tax that came into effect on 6 April as 'a slap in the face for struggling Britons'.
More on tax credit story @
http://www.tuc.org.uk/economy/tuc-22073-f0.cfm
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