Monday 5 August 2013

So what's the point of all this, George?

Daily Mail, 21 March 2012:

Families receiving child benefit were offered some relief today when George Osborne announced that the cut-off point will be £60,000. The Government had been previously wanted to scrap child benefit for anyone earning more than the £42,475 but the plans were met with criticism.

An increase in the threshold to £60,000 will lift significant numbers out of the child-benefit trap, but the anomaly of hitting one-earner families harder will remain as it is simply shifted higher up the income scale. Child benefit is currently worth £20.30 a week for the first child and £13.40 each for any more, regardless of the parents’ income.

The Institute for Fiscal Studies estimated that the move would have affected one in six parents – or a total of 1.2m families – and save the Government £1bn a year.

Daily Mail, 5 August 2013:

Families with incomes of up to £300,000 are to benefit from new tax breaks to help cut the cost of childcare.

Chancellor George Osborne visited a nursery today as he unveiled plans to cut bills by £1,200 per child. But he faced sharp criticism for using taxpayers’ money to help some of the wealthiest families in the country while snubbing stay-at-home mothers who will not benefit...

Critics said the policy was not 'sensible' and and 'inconsistent' with other polices to cut help for families where someone earns more than £50,000.

From 2015 families where both parents work will get help from a £1billion fund.

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