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Child Care Tax Credit

Treasury written question – answered on 9th February 2011.

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Photo of Stephen Timms Stephen Timms Shadow Minister (Work and Pensions)

To ask the Chancellor of the Exchequer what estimate he has made of the level of savings which will accrue to the Exchequer as a result of reducing the rate of childcare support from 80% to 70%.

Photo of David Gauke David Gauke The Exchequer Secretary

The following table shows the information requested.

Saving (£ million)
2011-12 370
2012-13 430
2013-14 465
2014-15 500

This information can be found in the "Spending Review 2010 Policy Costings" document on the Treasury website:

http://cdn.hm-treasury.gov.uk/sr2010_policycostings.pdf

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