{"value":{"id":1738038,"memberId":4559,"member":null,"memberRole":"The Financial Secretary to the Treasury","uin":"HLWS173","dateMade":"2024-10-30T00:00:00","answeringBodyId":14,"answeringBodyName":"Treasury","title":"Social Security","text":"<p>My right honourable friend the Chief Secretary to the Treasury (Darren Jones) has today made the following Written Ministerial Statement.</p><p>The Tax Credits Act 2002 and the Social Security Administration Act 1992 place a statutory duty on His Majesty’s Treasury to review the rates of tax credits and Child Benefit each year in line with the general level of prices. There is a further statutory duty on the Treasury to increase Guardian’s Allowance in line with price growth. I have now concluded the review for the tax year 2025/26.</p><p>I have decided to increase Child Benefit rates in line with the Consumer Price Index (CPI) for the year to September 2024, which is 1.7%. Guardian’s Allowance will also increase by the same rate. This means that, from 7 April 2025:</p><ul><li>the Child Benefit rate for the eldest child will increase from £25.60 to £26.05 per week;</li></ul><ul><li>the Child Benefit rate for other children will increase from £16.95 to £17.25 per week;</li></ul><ul><li>Guardian’s Allowance will increase from £21.75 to £22.10 per week.</li></ul><p>I have determined that there will be no need for changes to tax credits rates in the tax year 2025/26, as there will be no tax credits awards after 5 April 2025.</p><p>The new rates will apply across the United Kingdom. I will deposit the full list of these rates in the House libraries shortly.</p>","house":"Lords","noticeNumber":0,"hasAttachments":false,"hasLinkedStatements":true,"linkedStatements":[{"linkedStatementId":1738036,"linkType":"JointStatement","linkDate":"2024-10-30T00:00:00"}],"attachments":[]},"links":[{"rel":"self","href":"/Statements/1738038","method":"GET"}]}