Karl McCartney
Main Page: Karl McCartney (Conservative - Lincoln)Department Debates - View all Karl McCartney's debates with the HM Treasury
(9 months ago)
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Gareth Davies
FLOWMIS is an incredibly important scheme in improving and enhancing our ability to expand floating offshore wind. We are a huge supporter of my right hon. Friend’s constituents and of the whole of Wales. If the Chancellor cannot meet him, I would be very happy to do so.
Karl MᶜCartney (Lincoln) (Con)
The Financial Secretary to the Treasury (Nigel Huddleston)
The Government will raise the point at which child benefit is fully withdrawn to £80,000 from £60,000, and we will raise the high-income child benefit charge threshold to £60,000 from £50,000 from 6 April 2024, taking 170,000 families out of paying the charge. Overall, these changes mean that almost half a million hard-working families will gain an average of £1,260 towards the cost of raising their children.
Karl MᶜCartney
These changes are welcome, and they mean that more Lincoln families will receive more support from the Government, as I told the Minister in Lincoln on Friday. Will my hon. Friend confirm when the formal consultation on basing child benefit on household income rather than on individual income will commence, if the civil servants in the Treasury will let him do it?
Nigel Huddleston
I thank my hon. Friend. It was a pleasure, as always, to meet him in his constituency on Friday, where we discussed this matter and many others. The Government will launch a consultation in due course on how to end this unfairness by administering the HICBC on a household rather than an individual basis. Doing so would require significant reform of the tax system, as our tax infrastructure does not currently have a mechanism to consider household income, but the Government plan to end the unfairness for single-earner families in the child benefit system by administering the HICBC on a household rather than an individual basis by April 2026.