§ 35. Dr. George TurnerTo ask the Chancellor of the Exchequer what impact he expects the measures contained in his pre-Budget statement to have on the living standards of the average family. [141870]
§ Dawn PrimaroloThe living standards of a single earner family on average earnings with two children are expected to increase by 10 per cent. in real terms over the Parliament.
The children's tax credit, to be introduced from April 2001, will be worth at least £442 a year to this family. As the Chancellor announced in his pre-Budget statement, his aim is to increase it to £520 a year, equivalent to a cut in the basic rate of tax of 2½ per cent. for this family.