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"The Institute for Fiscal Studies (IFS) delivered this assessment ahead of a Budget where the Chancellor is widely expected to announce changes to the contentious limit. The cap, introduced by the Conservatives in 2017, restricts universal or child tax credit to the first two children in most households. A full reversal, the IFS estimates, would cost around 3.6 billion and lift some 630,000 children out of poverty."
Reversing the two-child benefit cap would be among the most cost-effective ways to reduce child poverty, according to the Institute for Fiscal Studies. The cap, introduced by the Conservatives in 2017, restricts universal or child tax credit to the first two children in most households. A full reversal would cost about £3.6 billion and lift roughly 630,000 children out of poverty. Exempting working families would reduce the cost to £2.6 billion and lift about 410,000 children. Paying third and subsequent children at half the rate would cost around £1.8 billion. The Chancellor is widely expected to consider changes.
Read at www.independent.co.uk
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