Poor working families face big losses from benefit cuts, says IFS

Nearly 3m working households with children on tax credits face average loss of 2,500 a year, according to thinktank

Low-income working families face significant reductions in income as a result of planned cuts to benefits, according to the Institute for Fiscal Studies (IFS).

The thinktank says the freeze in benefit rates and cuts to child tax credit, coupled with the rollout of universal credit, which has become less generous as a result of changes to work allowances, signal "large losses" for low-income households.