labourpress:

Owen Smith MP, Labour’s Shadow Work and Pensions Secretary, responding to Iain Duncan Smith’s claim on the Andrew Marr show that “nobody loses a penny” from cuts to Universal Credit, said:

“Iain Duncan Smith is completely wrong to say nobody loses a penny from his cuts to in-work support.

 “Cutting Universal Credit raises £100m for the government next year and that money has to come from somewhere.

“What the Tories aren’t telling us is that the £100m – and a further £9.5 billion over the next five years – comes from the pockets of low- and middle-income families.

“That means those currently on Universal Credit face losses of up to £2,400 come April.

“Just like tax credit cuts, working families will be worse off next year and just like those cuts, Labour will fight them at every turn.”

`