Gov to cut Child Benefit

As the Government prepares to take €4bn from the economy, child benefit is first on its hit list. They intend to introduce a three tier system which essentially is a way of taxing child benefit without saying their taxing child benefit. They say higher earners will be hit hardest by the new system losing up to 50% of their benefit however it will be interesting to see who they now deem to be higher earners.

Many people have voiced their dismay at this new system saying it will force many parents out of the workforce as they won’t be able to afford childcare. The government seems to be using a small deflationary period in the economy to justify cuts to all benefits. Of course for the majority of families everyday expenses haven’t come down, it might be quiet a bit cheaper to buy a new bmw but milk and bread still cost the same.

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