Skip to main content

Budget 2012 - child benefit

The government has announced plans to cut child benefit to those earning over £50,000.

Under the proposal declared in the 2012 Budget families in which one person earns over £50,000 will lose one per cent of child benefit for every £100 over £50,000. For those in which one partner earns over £60,000 no child benefit whatsoever will be available.

The move is likely to upset those that argue the Conservative Party is not promoting 'family values' as two earners receiving £49,999 will continue to receive the benefit whereas those in which one partner chooses to stay at home to look after a child will see the benefit cut if that sole earner receives more than £60,000 a year.

What Investment magazine: SAVE 47%

Growth Company Investor: free trial