AIRLINK 74.00 Decreased By ▼ -0.25 (-0.34%)
BOP 5.14 Increased By ▲ 0.09 (1.78%)
CNERGY 4.55 Increased By ▲ 0.13 (2.94%)
DFML 37.15 Increased By ▲ 1.31 (3.66%)
DGKC 89.90 Increased By ▲ 1.90 (2.16%)
FCCL 22.40 Increased By ▲ 0.20 (0.9%)
FFBL 33.03 Increased By ▲ 0.31 (0.95%)
FFL 9.75 Decreased By ▼ -0.04 (-0.41%)
GGL 10.75 Decreased By ▼ -0.05 (-0.46%)
HBL 115.50 Decreased By ▼ -0.40 (-0.35%)
HUBC 137.10 Increased By ▲ 1.26 (0.93%)
HUMNL 9.95 Increased By ▲ 0.11 (1.12%)
KEL 4.60 Decreased By ▼ -0.01 (-0.22%)
KOSM 4.83 Increased By ▲ 0.17 (3.65%)
MLCF 39.75 Decreased By ▼ -0.13 (-0.33%)
OGDC 138.20 Increased By ▲ 0.30 (0.22%)
PAEL 27.00 Increased By ▲ 0.57 (2.16%)
PIAA 24.24 Decreased By ▼ -2.04 (-7.76%)
PIBTL 6.74 Decreased By ▼ -0.02 (-0.3%)
PPL 123.62 Increased By ▲ 0.72 (0.59%)
PRL 27.40 Increased By ▲ 0.71 (2.66%)
PTC 13.90 Decreased By ▼ -0.10 (-0.71%)
SEARL 61.75 Increased By ▲ 3.05 (5.2%)
SNGP 70.15 Decreased By ▼ -0.25 (-0.36%)
SSGC 10.52 Increased By ▲ 0.16 (1.54%)
TELE 8.57 Increased By ▲ 0.01 (0.12%)
TPLP 11.10 Decreased By ▼ -0.28 (-2.46%)
TRG 64.02 Decreased By ▼ -0.21 (-0.33%)
UNITY 26.76 Increased By ▲ 0.71 (2.73%)
WTL 1.38 No Change ▼ 0.00 (0%)
BR100 7,874 Increased By 36.2 (0.46%)
BR30 25,599 Increased By 139.8 (0.55%)
KSE100 75,342 Increased By 411.7 (0.55%)
KSE30 24,214 Increased By 68.6 (0.28%)

British Prime Minister David Cameron's government faced a growing row Sunday over plans to cut welfare payments for low-income workers on the eve of a highly sensitive vote in parliament. Finance minister George Osborne, a possible successor to Cameron and his de facto deputy, wants to cut tax credits as part of £12 billion (17 billion euros, $18 billion) in welfare cuts to help reduce Britain's deficit.
Opponents and many in Cameron and Osborne's centre-right Conservative party argue that the move is unfair and will hurt several million families.
The House of Lords will hold a series of votes on the issue Monday in which the government could face defeat after peers tabled motions to try and stop the cuts.
Encapsulating the often emotional nature of the debate, an angry female Conservative supporter cried on a primetime BBC talk show this month as she confronted a government minister about the impact the cuts would have on her. Education Secretary Nicky Morgan, an Osborne ally, suggested to the BBC Sunday that there could be some changes to the policy as media reports suggested the government could U-turn on the issue in a budget statement in November.
Morgan said Osborne was "in listening mode" but added: "The policy is not going to change... not the main policy".
John McDonnell, finance spokesman for the main opposition Labour party who is close to its leftist leader Jeremy Corbyn, told the BBC it would "not make political capital" out of any change.
Labour says that the government's current proposals would cost people an average of £1,300 a year.
Osborne argues that the existing system of tax credits - in which the state tops up the incomes of people on low salaries - is too expensive, costing £30 billion a year.
He has pledged a new "national living wage" of £9 an hour by 2020 and is lifting income tax thresholds to try and boost incomes.
"What are the alternatives to trimming an unsustainable welfare bill? We would have to borrow more money we don't have and burden our children with still higher debt," the finance minister wrote in a Daily Telegraph article this month.
London Mayor Boris Johnson, another contender to replace Cameron as Conservative leader, has been among the critics of Osborne's plan.
And 63 members of the House of Lords including two former archbishops of Canterbury wrote to the Observer newspaper Sunday calling for a change of tack.

Copyright Agence France-Presse, 2015

Comments

Comments are closed.