§ Mr. WebbTo ask the Chancellor of the Exchequer, pursuant to his answer of 1 February 2000,Official Report, column 579W, if he will estimate the yield from tapering away child benefit in the hands of the highest earner in a couple according to the thresholds and tapering mechanism envisaged for children's tax credits, whereby benefit would be tapered away from couples containing a higher rate tax payer. [108616]
§ Dawn PrimaroloThe Government will introduce a new Children's Tax Credit from April 2001. To ensure that support for the family is increased in the fairest way, it will be tapered away from families where there is a higher rate taxpayer. The long-term goal is to bring together the different strands of support for children in Working Families Tax Credit, Income Support and the Children's Tax Credit to create an integrated and seamless system of financial support, building upon the foundation of universal Child Benefit.
However, if Child Benefit were to be tapered away from families where there is a higher rate taxpayer along the lines envisaged in the hon. Member's proposal, the estimated yield would currently be £600 million in a full year.