indeed.
It's becoming increasingly obvious that all tax credits did was to allow big business to not increase their wages to enable their staff to live on the wages they get paid, which then helps them to undercut any businesses that actually paid a living wage so that they either have to shut down, or adopt the poverty wages + tax credits and housing benefit methods of big business in order to survive.
Meantime big business are making massive profits, and the differential between the wages of the common employees vs senior management and directors has got dramatically wider. Effectively it's the tax payer subsidising these profits, and performance bonuses and wage rises for those at the top.