HISTORIC PRESS RELEASE : Tax Credits a huge success – almost 6 million families benefiting [September 2003]

The press release issued by HM Treasury on 4 September 2003.

New figures published today show that take-up of the new tax credits has been a huge success with 5.8 million families benefiting after just four months, a massive 95 per cent of those expected to receive tax credits in the first year, said Paymaster General Dawn Primarolo today.

Speaking to the Child Poverty Action Group (CPAG) in London, Ms Primarolo said:

“New tax credits are the biggest step forward in tackling child poverty, making work pay, supporting hard working families, and getting more financial support to families ever introduced by this or any other Government.

“I can announce today that already, 5.8 million families are benefiting. We had expected that by next April, after a full year, six million families would be benefiting. So, after just four months, we have reached 95 per cent of those we expected to reach over a year– a massive success by anyone’s standards.

“Tax credits play a crucial role in support for mums who want to go back to work; help for families coping with the costs of a new baby; help for hard working families.”