McDonnell: Labour to oppose Osborne's tax credit cuts

Labour's new shadow chancellor John McDonnell has promised the party will vote against George Osborne's "disgraceful" cuts to tax credits in a House of Commons vote later today.

The plans announced in the Budget - which include a cap on child tax credit to a maximum of two children per family - are projected to save £4.4 billion in 2016-17.

Also included are proposals to cut from £6,420 to £3,850 the earnings level above which tax credits are withdrawn.

New Labour leader Jeremy Corbyn has claimed that the plans will "impact over three million families across Britain facing an average loss of over £1,000" per year.

And today McDonnell - a left-wing MP whose appointment has been controversial among some in the Labour ranks - said his party would "bring down the welfare bill".

He also claimed it was an "outrage" that the tax credit cuts wee being introduced "without an impact assessment", claiming that he Social Security Advisory Committee had been denied the evidence it needs "in order to properly scrutinise the changes".