Greg Hands M.P. has welcomed today’s landmark announcement to introduce tax-free childcare. It will be worth up to £1,200 every year for each child under age 12, and around 2.5 million families will be able to claim it.
Under the new scheme, the Government will meet 20 per cent of childcare costs for working families, saving a typical working family with two children under 12 as much as £2,400 every year.
From Autumn 2015, all children under 5 will be eligible, making the scheme available to 1.3 million families. It will then be extended in phases to include all children under 12. All families can claim provided both parents are in work, earn less than £150,000 a year and are not in receipt of Universal Credit.
Commenting, Greg Hands M.P. said: “This is a landmark announcement for parents in Chelsea and Fulham, which will deliver meaningful support for the cost of childcare. It shows that Conservatives in Government are committed to helping families make ends meet, and to supporting parents back into work.”
The Prime Minister said: "If Britain is going to succeed in the global race we must help those who work hard and want to get on.
"Too many families find paying for childcare tough and are often stopped from working the hours they'd like. That is why we are introducing tax free-childcare, saving a typical family with two children up to £2,400 a year.
"This is a boost direct to the pockets of hard-working families in what will be one of the biggest measures ever introduced to help parents with childcare costs.”