Tax credit payouts reach record levels
Figures released today by the Inland Revenue have revealed that six million families are now taking advantage of the government's new tax credits.
The department claims that after only 10 months since their inception figures are approaching the total number of families expected to receive them.
‘Before they were introduced in April 2003 we estimated that six million families would benefit from them after a year. But now, after just under ten months, that figure has already been reached,’ said paymaster general Dawn Primarolo.
Families with a combined income of up to £58,000 are eligible for the credits.