The prime minister suggests tax credits are next for the chop

top-up

noun

BRITISH

1. an additional or extra amount or payment that restores something to the level that is required.

   "they will miss out on hundreds of pounds worth of pension top-ups"

   • a quantity of a drink that refills a partly full glass or cup.

     "he headed back to the bar for a top-up"

He held on to power in last month’s general election following an economics-heavy campaign in which he promised to swipe an additional £12 billion ($19 billion) from Britain’s welfare budget. On June 22nd David Cameron, the prime minister, showed he meant business. There were no great surprises about how those cuts would be achieved in his speech at a school in Runcorn in Cheshire. Mr Cameron’s speech seemed indeed to indicate that tax credits—top-ups for low earners—were next for the chop http://econ.st/1N213pU

A not-so-merry-go-round

The prime minister suggests tax credits are next for the chop

ECON.ST