Tory Budget to cut 'housing subsidies' for higher earners
July 5, 2015 7:49 AM Subscribe
BBC: "A clampdown on "taxpayer-funded subsidies" for "higher earners" living in social housing is to be announced by the chancellor in Wednesday's Budget. Local authority and housing association tenants in England who earn more than £30,000 - or £40,000 in London - will have to pay up to the market rent, George Osborne will say. The move is expected to raise up to £250m a year by 2018-19. It is thought that this could affect 340,000 households." George Osborne said: "the Budget would "reward work over welfare" and allow people to keep more of the money they earned."
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