Families will get thousands more in handouts from April
A major change is being made to benefits, as announced in the Spring Budget by Chancellor of the Exchequer Jeremy Hunt, which will see families' coffers boosted by up to £1,664 in the next 12 months.
This equates to about £96 per month for a single child family, but under current rules, you have to start repaying the money to the government when one parent earns over £50,270. The government said: "It’s not right that single-earner homes are punished when it comes to claiming child benefit."To help families immediately, we’ll raise the threshold from April 2024 for the High-Income Child Benefit Charge from £50,000 to £60,000, as well as halving the rate paid up to £80,000."A family with 2 children, whose higher earner has an income of £55,000, will gain around £1,109 per year.
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