Only a few days to go: We’re raising £25,000 to keep TheyWorkForYou running and make sure people across the UK can hold their elected representatives to account.

Donate to our crowdfunder

Tax Credits

Treasury written question – answered on 27th October 2005.

Alert me about debates like this

Photo of David Laws David Laws Shadow Secretary of State for Work and Pensions

To ask the Chancellor of the Exchequer what the revenue yield would be of (a) abolishing the family element of child tax credit and (b) withdrawing the family element of child tax credit on family incomes of over £30,000.

Photo of Dawn Primarolo Dawn Primarolo Paymaster General (HM Treasury)

The estimated reductions in expenditure as a result of these options, calculated for 2005–06, are:

(a) abolishing the family element of child tax credit: around £3 billion per year.

(b) withdrawing the family element of child tax credit on family incomes over £30,000: around £0.6 billion per year.

These figures were calculated using the department's tax and benefit model (IGOTM) based on data from the Family Resources Survey 2003–04.

Does this answer the above question?

Yes1 person thinks so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.