Iain Duncan Smith
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Iain Duncan Smith on attack over tax credits

The work and pensions secretary has attacked the tax credit system put in place by Labour, saying it had resulted in "a sorry story of dependency, wasted taxpayers' money and fraud".

Writing in the Daily Telegraph, Iain Duncan Smith said the credits - to top up the incomes of the lower-paid - were "haemorrhaging money".

Labour described the comments as a "cheap political attack".

Ross Hawkins reports.

  • 31 Dec 2012
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