You are here: Home - Household Bills - News -

Childcare vouchers may be saved in govt u-turn

Written by:
Childcare vouchers could be reprieved with an increased cap limit as part of an apparent government u-turn in this week’s Budget, according to reports.

If correct, the decision would go against previous indications that the childcare voucher system was set to be scrapped as part of reforms to childcare funding.

It was expected childcare vouchers would make way for a new system of tax breaks for parents to pay for their childcare.

However the last two months have witnessed bickering and indecision between the coalition partners over how to apply the tax breaks, while it also appears the level of concession may have been reduced.

According to a report in the Daily Mail on Saturday, the coalition partners are now considering increasing the £55 a week limit on childcare voucher spending.

An exact figure for the new limit has not been revealed, however the Daily Mail suggested that it could be up to £1,500 a year or more per family – potentially meaning an increase of around £750 per parent.

With conflicting reports emerging throughout the process, it is likely the full details will only emerge in Wednesday’s Budget.


Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Big flu jab price hikes this winter: Where’s cheapest if you can’t get a free vaccine?

Pharmacies, supermarkets and health retailers are starting to offer flu jabs ahead of the winter season, but t...

Is now the time to fix your energy deal?

Fixed energy tariffs all but disappeared during the energy crisis. But now they are back with an increasing nu...

Everything you need to know about the pension triple lock

Retirees are braced to receive another bumper state pension pay rise next year due to the triple lock mechanis...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

The best student bank accounts in 2023: Cash offers, tastecards and 0% overdrafts

A number of banks are luring in new student customers with cold hard cash this year – while others are compe...

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Money Tips of the Week