Childcare vouchers may be saved in govt u-turn

clock

Childcare vouchers could be reprieved with an increased cap limit as part of an apparent government u-turn in this week's Budget, according to reports.

If correct, the decision would go against previous indications that the childcare voucher system was set to be scrapped as part of reforms to childcare funding.

Iit was expected childcare vouchers would make way for a new system of tax breaks for parents to pay for their childcare.

However the last two months have witnessed bickering and indecision between the coalition partners over how to apply the tax breaks, while it also appears the level of concession may have been reduced.

According to a report in the Daily Mail on Saturday, the coalition partners are now considering increasing the £55 a week limit on childcare voucher spending.

An exact figure for the new limit has not been revealed, however the Daily Mail suggested that it could be up to £1,500 a year or more per family - potentially meaning an increase of around £750 per parent.

With conflicting reports emerging throughout the process, it is likely the full details will only emerge in Wednesday's Budget.

More on Employee Benefits

Active workers boost productivity

Active workers boost productivity

12 more productive workdays annually

Cameron Roberts
clock 19 November 2024 • 2 min read
Quarter of businesses not benchmarking benefits: Towergate

Quarter of businesses not benchmarking benefits: Towergate

Towergate Employee Benefits research

Jaskeet Briah
clock 12 November 2024 • 1 min read
Circle Health launches health insurance service for businesses

Circle Health launches health insurance service for businesses

Getting people back to work

Jaskeet Briah
clock 06 November 2024 • 2 min read

Highlights

COVER Survey: Advisers damning of protection insurer service levels

COVER Survey: Advisers damning of protection insurer service levels

"It takes longer than ever to get underwriting terms"

John Brazier
clock 12 October 2023 • 5 min read
Online reviews trump price for young people selecting life and health cover

Online reviews trump price for young people selecting life and health cover

According to latest ReMark report

John Brazier
clock 11 October 2023 • 2 min read
ABI members with staff neurodiversity policy nearly doubles

ABI members with staff neurodiversity policy nearly doubles

Women within executive teams have grown to 32%

Jaskeet Briah
clock 10 October 2023 • 3 min read