§ Baroness Castle of Blackburn
asked Her Majesty's Government:
What is the estimated loss to the Inland Revenue of the introduction of the Working Families' Tax Credit; and what is the latest figure for the cost of the Family Credit benefit it replaces. [HL4125]
§ Lord McIntosh of Haringey
The cost of the Working Families' Tax Credit in 2000–01, the first full year of the credit, is estimated to be about £4.9 billion. This is about £2 billion higher than the estimated expenditure on Family Credit.