The Guardian newspaper said Tuesday that British Finance Minister Rachel Reeves intends to remove the two-child cap on welfare payments to parents in her November 26 budget. In what has been a challenging beginning to Labour’s tenure in power after the party’s overwhelming election victory last year, which ended 14 years out of power, the budget is expected to be a pivotal moment.
The party’s administration is torn between its pledge to uphold stringent budgetary restraint, which is intended to keep nervous financial markets on board, and its goal of improving living standards nationwide, which contributed to the party’s election victory. Speaking at an event held in Liverpool on the fringes of the Labour Party’s annual conference, Reeves responded, “We will reduce child poverty in this parliament.
According to the Guardian, raising the cap was anticipated to be emphasized in the budget as one of the best ways to assist in rescuing hundreds of thousands of children from poverty. It would cost almost £ 3 billion ($4.03 billion) annually to reverse the two-child cap, which currently prohibits most parents from receiving welfare payments for more than two children, according to the Institute for Fiscal Studies (IFS).
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