Osborne will ‘listen to concerns’ after Lords vote to delay tax credit reforms

The House of Lords voted to delay the £4.4 billion package of cuts, which were designed to save billions from the welfare bill, but faced heavy criticism for the impact it would have on low-income families.

After a three hour debate, peers voted by a majority of 17 for low-income families to be given ‘full transitional protection’ from the cuts for at least three year. They also supported a motion, by a majority of 30, for the cuts to be delayed until the government responds to analysis of their impact by the Institute for Fiscal Studies.

Responding the the defeat in the House of Lords, Osborne said: "I said I would listen to the concerns being raised and that is precisely what I will do.

"We can achieve the same goal of reforming these tax credits, securing the money we need to ensure our economy is safe, and at the same time helping in the transition to these changes and I will set out how we achieve that at the Autumn Statement."

John McDonnell, the Shadow Chancellor, said: "George Osborne has got to think again. He has been defeated twice in the House of Lords tonight, but there are a large number of Conservative MPs as well who have been telling him very, very clearly he has got to think again.”

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