James Wright, Conservative candidate for Bath has welcomed the news that taxes for families have been cut, sticking to the plan and supporting more families across Bath with the cost of living.
The government has helped more than halve inflation from 11.1 per cent to 3.4 per cent. The Conservatives are tackling the cost of living, with wages continuing to grow and mortgage rates starting to come down.
In the Budget 2024, the Conservatives have increased the threshold for the High-Income Child Benefit Charge from £50,000 to £60,000 as well as halved the rate paid up to £80,000.
This is estimated to support half a million families in a gain of £1,260 towards the costs of raising their children and will come into effect from 6 April.
The cut means a family with two children in Bath, whose higher earner has an income of £65,000, has gained around £1,664 towards the cost of their childcare.
These tax cuts build on significant childcare reforms, including the introduction of 30 hours free childcare for working families in England with a child between nine months old up to school age from September 2025. This is a package worth an average of £6,900 for every family with a two-year-old child.
These reforms have been possible because the Conservatives are sticking to the plan to strengthen the economy and get more parents to take up the work that is right for them.
Commenting, James Wright said:
“The Conservatives are delivering landmark childcare reforms. As a father, I know how important this change will be to working parents.
“Changes to the High Income Benefit Charge will take 170,000 families out of paying the Charge, rewarding hardworking parents across the country.
“The Conservative Government has been able to support parents in Bath and if we stick to the plan we can continue to help to secure a brighter future for families across the country.”
