Hundreds of thousands of families could get £1,260 Child Benefit boost as major reforms announced

Hundreds of thousands of families will be able to access Child Benefit payments following changes announced in today's Spring Budget.

The benefit is available to all parents, but currently reduces if someone's income exceeds £50,000 a year and is lost altogether once their pay reaches £60,000.

But what it means is that a couple who each earn £49k are still entitled to the money, yet a single parent earning £50k on their own would get a lesser amount.

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Following campaigns by charities and Money Saving Expert Martin Lewis, Chancellor Jeremy Hunt has announced he's making 'significant reform' to the benefit, which he agreed is 'confusing and unfair'.

From 2026 the benefit will apply to households rather than individuals, something the government says it will consult on 'in due course'.

But because that is not what he described as 'a quick fix' he told MPs there will be two immediate changes from this April - and hundreds of thousands of parents will benefit.

The high-income Child Benefit charge threshold will be raised from £50,000 to £60,000 and a parent will be able to claim the benefit until their income reaches £80,000.

Mr Hunt told MPs: "I confirm that from this April the high-income child benefit charge threshold will be raised from £50,000 to £60,000. We will raise the top of the taper at which it is withdrawn to £80,000.

"That means no one earning under £60,000 will pay the charge, taking 170,000 families out of paying it altogether. And because of the higher taper and threshold, nearly half a million families with children will save an average of around £1,300 next year."

His Spring Budget states that the