Budget: More help for families

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Increases in Child Benefit payments and Child Tax Credits will have a greater effect than increasing personal allowances on lifting families and children out of poverty, which is why the government will focus its efforts in these areas.

Raising the value of credits will be worth up to £88 per week to eligible families with two children, or about £4,500 annually for such families. Child Benefit will increase to £17.45 per week. The Treasury will also extend its support to creating assets for children, with Brown confirming additional payments of £250 - or £500 for children from the poorest families - will be made to Child Trust Fund accounts when eligible children reach their seventh birthdays. Childcare costs will also be tackled beyond current commitments through tax credits and vouchers available to employers. Furt...

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