Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of increasing the income threshold for the High-Income Child Benefit Tax charge.
The Government is committed to managing the public finances in a disciplined and responsible way by targeting support where it is most needed. At present, the adjusted net income threshold of £50,000 only affects a small minority of those with comparatively high incomes.
The Government set the High Income Child Benefit Charge (HICBC) thresholds at these levels to help target public expenditure in the way it considered most effective. As with all elements of tax policy, the Government keeps this under review as part of the annual Budget process.