Child benefit payments are increasing in April but the rise won't even stretch to the cost of a budget loaf of bread.
The 1.7% increase will see the child benefit payment rise by 35p a week for parents with one child - that's less than the price of a cheap white loaf in budget retailer Aldi.
It means parents will now get just £21.05 a week for one child and £13.93 a week for subsequent children.
The government has announced it is lifting the five-year freeze and the rise is in line with inflation - based on how much the cost of living went up by last year.
Universal Credit will also rise by the same amount, as will a number of legacy benefits. These include
- Jobseeker’s Allowance
- Employment and Support Allowance
- Income Support
- Housing Benefit
- Universal Credit
- Child Tax Credits
- Working Tax Credit
The increase means someone on £400 a month in benefits will get an extra £6.80.
Child benefit is the payment that all parents earning less than £60k a year can claim.
It usually stops when your child reaches the age of 16, but if they stay in approved education or training you can get it until they turn 20.
But, if you or your partner earns more than £50k you may have to pay a tax charge. You can choose to opt out of child benefit, but it's still advisable to fill in the claim form .
What do you think of the rise? Do you think those on the basic child benefit should be able to claim more? Will the rise make a difference to your living standards? Let us know in the comments or share your views on our Manchester Family page here.
