§ 15. Mr. HealeyTo ask the Chancellor of the Exchequer if he will list the measures he is taking to increase financial support to families. [83203]
§ Mr. Gordon BrownAll families will have benefited from the increase in child benefit for the eldest child which came into force in April and from the above-inflation increases announced for next April. Following the introduction of the new children's tax credit in April 2000 a family with one child receiving this and child benefit will get double the support for their child, £23 a week, compared with their position in May 1997 when they would have received £11.40 a week.
In addition, the working families tax credit will be introduced in October this year and will benefit 1.5 million families. It will provide a guaranteed minimum income of £200 for a family with someone in full-time work on the national minimum wage.
204WThe WFTC and related increases to the child premia in income related benefits will ensure that all low-income families benefit from the increased support for children. Overall, as a result of the last two budgets, families with children will, on average, be £740 a year better off. As a result of the budget measures, 700,000 children will be lifted out of poverty. The tax rate for a family on average earnings with two children will be cut to its lowest level since 1972.