To ask the Chancellor of the Exchequer, if he will make an assessment of the potential impact of the High Income Child Benefit Charge on people eligible to pay that charge during the cost of living crisis.

The adjusted net income (ANI) threshold of £50,000 for the High Income Child Benefit Charge (HICBC) affects a small proportion of taxpayers with comparatively high incomes. HMRC data also shows that the vast majority of those liable to HICBC have incomes above the UK Higher Rate Threshold. The Government has no plans to alter the current threshold for the HICBC.

Nonetheless, the Government understands the difficulties that families across the income distribution are facing with the cost of living. That’s why have taken decisive action to support households through these challenges. For example, the Energy Price Guarantee will be extended from April 2023 until April 2024, saving the average household in Great Britain £900 over the financial year.