The Impact on women of Autumn Financial Statement 2012 and Welfare Benefits Uprating Bill 2013
This budget analysis examines the Autumn Financial Statement 2012 and Welfare Benefits Up-rating Bill 2013.
UK Policy Briefing
Background briefing on the High Income Child Benefit Charge
Ahead of the Spring Budget 2024, it has been rumoured that the Chancellor is considering extending Child Benefit to hundreds of thousands more families, by either abolishing the High Income Child Benefit Charge (HICBC) or increasing the HICBC starting salary threshold, requiring between £1bn and £4bn respectively. The HICBC claws back Child Benefit via the tax system when the recipient, and/or their partner, earns £50,000 or more a year.
Child Benefit, provided to most parents or guardians to assist with child-raising costs, amounts to £24 per week for the first child and £15.90 for additional children, typically paid to the mother or main caregiver. Initially a universal benefit, the introduction of the HICBC in 2013 impacted families earning over £50,000, with those earning above £60,000 losing the benefit entirely. This has affected around one in three families, with nearly 2.5 million households expected to be impacted soon.
In this briefing, we discuss the shortfalls of the current Child Benefit, and argue in favour of returning to a stronger universal system designed to meet the needs of parents and children alike.
This budget analysis examines the Autumn Financial Statement 2012 and Welfare Benefits Up-rating Bill 2013.
A blog by Susan Himmelweit, emeritus professor of economics at the Open University and Chair of WBG's Policy Advisory Group
A pre-budget briefing from the Women's Budget Group
Ahead of the 2018 Autumn Budget, we’ve put together a briefing on the impact of tax policy on women.