TUC warns families could lose over £3,000 a year

The TUC has warned that families could be £3,000 a year worse off by 2015 due to tax credit changes.

Parents could be in for a shock, it said, because they have not yet realised how much the reforms will cost them.

TUC general secretary Frances O'Grady: "Cutting tax credits is not the way to get our economy moving again" Credit: Edmond Terakopian/PA Wire

The organisation claimed that a family with parents earning £25,000 and £15,000 paying childcare of £300 for their two children could lose over £3,000 a year by 2015/16.

TUC general secretary Frances O'Grady said: "The Government should be prioritising support for working families but seems more interested in coming up with new ways to squeeze their living standards."