Osborne said the government would decide over the next few months how to implement the proposals, but despite earlier reports, there will be no reversal on the policy.
The Chancellor first announced plans to scrap child benefit for higher earning households in October 2010. Speaking today (13 January), he said: "We should ask those who are better off in our society to make a contribution to the savings we’ve got to make as a country."
The changes will affect parents earning more than £42,400 a year. But critics of the proposal say that a single parent earning more than £43,876 will lose their child benefit while a couple earning a combined income of some £86,000 would continue to receive the benefit.
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