Official UK Government announcements, UK Parliament records

Rishi Sunak’s Conservatives Announce £1,500 Tax Cut for 700,000 Families

Jun 6, 2024, 09:55 PM

Rishi Sunak’s Conservative Party has announced a new plan to raise the threshold at which parents lose access to child-care benefits. The proposal aims to provide a £1,500 tax cut for parents, benefiting 700,000 families on average. Families paying the Child Benefit Tax Charge will be particularly impacted. The initiative is part of a broader strategy to close the gap in the polls with Labour. The £1.3 billion funding required for this plan will be sourced by clamping down on tax avoidance and tax evasion.