These would be done in such a way that Commons Speaker John Bercow would be obliged to designate them as financial measures, forcing peers to accept the cuts.
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The Liberal Democrats have tabled a so-called “fatal motion” aimed at scuppering the plans while a separate motion by Labour is seeking a delay with “full transitional protection for a minimum of three years”.
London Mayor Boris Johnson said Mr Cameron and the Chancellor were “right to feel pretty aggrieved” about the defeat.
Numerous calculators are available online to estimate what you stand to lose or gain – but the controversial cuts have sparked a fierce debate and there is no consensus on which calculator will yield accurate answers.
While speaking to reporters, Osborne said “I have said I would listen and that’s exactly what I intend to do”. He said: “The simple truth is that this was an incredibly important, possibly harmful, thing to three million people – hard-working families, the people we are supposed to support – and somebody had to tell the Government to think again”.
Among the protesters were former leadership contender Liam Fox (North Somerset), who questioned the “constitutional implications” of the actions of the “unelected House”, while Jacob Rees-Mogg (North East Somerset) highlighted the 1678 Declaration of Privilege by the Commons over the Lords on financial matters.
Torsten Bell, director of the Resolution Foundation, said Osborne should ease these cuts to the income threshold.
“We will continue to reform tax credits and save the money needed so that Britain lives within its means, while at the same time lessening the impact on families during the transition”.
“David Cameron and I are clear that this raises constitutional issues that need to be dealt with”.
Lord Smith said: “As soon as I heard that the tax credit vote was coming up in the Lords, I rearranged my schedule so I was able to go down and participate in the vote. I think it’s bullying tactics”, Crossbencher Baroness Meacher was quoted on Saturday as saying by the British media.
The Sky Data shows that 80% of people who voted for the Tories in May want to see low income workers protected from Government cuts.
The Tory peer added that the tax credit system had been allowed to “balloon enormously” in recent years and that it was “absurd” to say that a means tested benefit could never be reduced.
One Conservative aide said that by defying warnings not to break convention, the Lords had given the government cause to “do something quite substantial” in return.
“He has asked for a rapid review to see how it can be put back in place”.
But few seem personally angry with George Osborne.
There have been suggestions that the Conservative could create scores of new peers to ensure that they have a majority in the Lords.
Senior Tories, including former Chancellor Lord Lawson, had called for the reforms to be tweaked.
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“I am torn because I believe there are aspects to these measures which need to be reconsidered and indeed changed”. The House of Lords have even been warned that rejecting such a large financial measure would provoke a “constitutional crisis” in a bid to persuade peers not to block the measures.
