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Cutting back: dealing with changes in income

23 November 2015

To help the Government with its final decisions about Tax Credits before the Spending Review we asked people how a drop in income would affect them and what changes they might make to try to adapt to it.

Our online survey of over 500 people has shown that:

  • Three quarters of people would find it difficult to cope with a drop in income like this
  • Three quarters of people would reduce their household spending to cope with this
  • One third of people would have to use credit or get into debt to cope with this
  • One quarter of people would look to increase their income from work

You can see more of our results on our Tax Credit Barometer [ 370 kb] and watch the video below to see the people of Dudley explain their responses.