Spring Budget has been revealed but how does it affect families?
Many groups such as families, working parents and self-employed were left disappointed with what was shared in the spring budget.
The chancellor’s speech involved families, however, there was very little positive information shared that would help this target group. Employees who receive minimum wage will see a rise in this, going from £7.20 to£ 7.50. There is also a move to increase the tax-free personal allowance from £11,000 to £11,500.
The spring budget confirmed the introduction of the tax-free childcare scheme from April as well as the 15 hours free childcare doubling to 30hrs come September for working parents.
The new childcare tax-free childcare will mean families will get up to £200o a year towards the help of childcare for one child under the age of 12. To be eligible parents must work 16hrs a week and earn at least £115 per week.
The doubling of the free early year’s education (30hrs) will only be available for working parents. However, there is fear that there will not be enough childcare places available, due to childcare providers opting out on offering the scheme.