October 4th, 2010 
admin George Osborne says the cut, which will apply from 2012t to people on the 40% and 50% income tax rates, is ‘difficult but fair’ and will raise around £1bn
Child benefit payments will be stopped for all higher-rate taxpayers to pay for wider welfare reform, the chancellor, George Osborne, announced this morning.
Osborne said the cut, which will apply from 2013 to people on the 40% and 50% income tax rates, was “difficult but fair” and would raise around £1bn. Families earning over about £44,000 would be affected.
“It’s a big decision for us, but we think it’s absolutely necessary and fair given the financial situation we face,” Osborne said, ahead of his speech to the Conservative party conference in Birmingham.
“When we are asking so much of so many people across society, I think it is a fair measure. It’s very hard to justify taxing people on much lower incomes in order to pay the child benefit to some of the better off in our society.
“It’s not a decision taken lightly, but given the scale of the debts Labour’s left us with, and given they’ve left us with no plan and we’ve had to come up with proposals, we think this is fair.”
At the moment, parents are paid £20.30 a week for the eldest child and £13.40 for subsequent children, with payments continuing until the age of 19 for those in full-time education.
The benefit cut will help play for Tory plans for a universal single payment of welfare that will cover tax credits as well other benefits including housing benefit, jobseeker’s allowance, and council tax benefit.
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