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High earners to lose UK child benefit
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High earning households with one parent making more than £50,000 a year, are to see their child benefit reduced or stopped altogether.
The new approach is part of a plan to make high earners help to reduce the country's budget deficit. "In a period when the government is having to reduce welfare spending," a Treasury spokesman said, " it is very difficult to justify continuing to pay for the child benefit of the wealthiest 15% of families in society".
Even though the measure is likely to leave 85% of all UK families unaffected, Deputy Prime Minister Nick Clegg called the move "excrutiatingly difficult" and said the change was likely to affect "people who do not feel wealthy".
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