HC Deb 26 February 1973 vol 851 c305W
Mr. Meacher

asked the Secretary of State for Social Services what would be the net cost, on the basis that child tax allowances were abolished, of providing, respectively, taxed and tax-free family allowances for all children including the first at the rate of£2 per week for children under 11 years of age,£2.50 for children 11–14 years of age, and£3 for children of 15 years of age or over who are in full-time education.

Sir K. Joseph

There would be a net saving of about£10 million in 1972–73 if the family allowances at the proposed rates were taxed. The net cost of tax free family allowances at these rates would be approximately£420 million.