Big business has won the day. They will continue to be subsidised by the government through tax credits allowing them to pay crap wages. Out of cowardice, George Osborne has kept this Blairite, Neocon policy. The left rejoice at the greedy mill owners triumph.
Tax credits are paid for by general taxation and used to cover up for big business keeping wages low. So instead of businesses paying higher wages and our taxes being spent on the NHS and education they instead subsidise fat cat shareholders. Let’s never forget that the unions and their Labour Party puppets support this.