Tories Propose Major Overhaul of Child Benefit Tax System
Plan aims to ease financial burden on families, raising thresholds and shifting to household income basis.
- New policy would raise the high-income child benefit tax charge threshold to £120,000, benefiting 700,000 families.
- Child benefit would be gradually withdrawn up to a household income of £160,000 under the new system.
- The changes are projected to save affected families an average of £1,500 annually.
- Critics argue the policy favors higher-income households and question the feasibility of funding through tax avoidance crackdowns.
- Children’s minister faced criticism for not knowing current child benefit figures during a radio interview.
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