Universal credits replacing Tax Credits

[ValiumQueen]

Just wondering if anyone knows what this is likely to mean for families. As far as I can tell nothing is decided yet, but does anyone have any thoughts or ideas? I am thinking of going back to work part time as I would be better off financially, considering tax credits and childcare for three children. I do not want to make a bad decision for my family. Thank you

There's quite a lot of information on the DWP website here about the aims an intentions of the Universal Credit. No actual details of who gets what and how much, yet, just the principles behind it. One of the main ones seems to be that work is rewarded. One specific example they give is that a single parent currently has to work 16 hours to get Tax Credits - very inflexible. The UC will recognise if they work 14 or 15 hours.

My own opinion is that, whether you end up better or worse off short-term, it's always preferable to be earning your own money. Benefits can be given or they can be taken away. What you earn is yours and stays yours. Your children won't be children for ever, child-care costs reduce as they get older and, if you're in a job, you're better placed to increase hours or get promotion than if you've spent years at home out of the workplace.

I am not considering stopping work altogether, just dropping to 25 hours, which I would hope to continue even while the children are at school. You make a fair point about money, but I have been in posts where I got paid a lot pre-children, and now I feel they are more important than money. I was the sole wage earner for 7 years, and my DH is now working, so dropping hours is a lot about what is best for me not just financially.

Thank you for the link, and your views