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The Squeezed Middle Hit Again Might Equity Release Help
27/01/2011
A high-powered analysis has found that squeezed middle-income earners are to be hit yet again by the Coalition’s radical reforms of the benefit system.
It showed that the shake-up, meant to draw hundreds of thousands of the workless into jobs, will penalise middle-income families and savers.
1.4 million Will lose out when a string of benefit payments are replaced in three years by Iain Duncan Smith’s Universal Credit. The great majority will be those who have built up savings and those struggling to get by on incomes in the £25,000-a-year bracket.
The calculations by the independent and respected Institute for Fiscal Studies undermine the Work and Pension Secretary’s claim two months ago that ‘there will be no losers’.
The highest number of losers are middle earners with savings
Homeowners aged over 55 years who are concerned about benefit system reforms and would like to know how much money the value of their property could release to increase their income, can find out by contacting therightequityrelease.co.uk for equity release advice.
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