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Sunday, 27 June 2010 06:42

How the budget will affect families

Below is a summary of the budget changes that relate directly to families with young children:
 
•Families earning more than £40,000 will have their tax credits reduced.
 
•Benefits, tax credits and public service pensions will increase in line with consumer prices rather than the retail price index.
 
•Child benefit will be frozen for the next three years.
•Lone parents expected to look for work when their first child goes to school.
 
•Housing benefit will be limited to a maximum of £400 per week for a four-bedroom house.
•Two year council tax freeze.
•The child element of child tax credit will rise by £150 above inflation next year.
•Sure start maternity grant will go to the first child only.
 
 
source: John Bolche family lore.