If you're a parent who was waiting for today's Autumn Budget 2024 announcement in the hopes it would bring good news for you and your family, then you might be feeling disappointed. That's because, despite rumours of reforms to policies like the two-child benefit cap, chancellor Rachel Reeves didn't announce any changes.
The current system means that families claiming Universal Credit or Child Tax Credit cannot get extra payments for a third or subsequent child born after April 2017. But, if one parent earns over this, their Child Benefit will be reduced, and cut altogether once they earn more than £80K.
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