The spending review - Mumsnet's summary and reaction
In his Spending Review speech to the House of Commons, Chancellor George Osborne said he would be "providing for families and protecting the vulnerable". Now it's the turn of Mumsnetters to see whether his actions support those intentions.
Here are some of the key points from today's review, together with a few of your reactions:
- Working Tax Credit eligibility rules changed so that couples with children must work 20 hours a week between them, with at least one working 16 hours a week, in order to qualify
- Childcare element of the Working Tax Credit returned to its previous 70% level from the current 80%
- Child element of the Child Tax Credit increased by a further £30 in 2011-12 and £50 in 2012-13 above indexation
Early years and education
- Fifteen free hours of early education and care to be introduced for all disadvantaged two year olds
- Schools budget to rise from £35bn to £39bn
- £150m national scholarship fund established for students from disadvantaged backgrounds
- Council budgets cut by 7.1% a year for four years
- Council tax benefit spending reduced by 10% and localised
- New council tenants will have to pay rent which is 80% of the market rate.
- State pension age increased to 66 for men and women (the rate at which women will reach this point has been increased to achieve this)
Spending review impact, based on income
From the Treasury Spending Review document.
"Has he actually done anything about those who choose not to work? Or is he just hitting families that do work?" bytheMoonlight
"How can cutting all these jobs save money and help the economy? I just can't see how we are going to avoid a double-dip recession." molemesses
"Thank God the Queen is giving up 14%!" tootlesmummy
"Hey ho - big council tax rises year after next then. Actually, I think that's fair enough." alicatte
"Did you really just show off about keeping the universal benefit? Keep it for old people. Fuck the mothers and kids." ladyblahblah
What do you think?
You can share your reaction to the Spending Review speech in our Spending Review discussion thread.