PARLIAMENTARY WRITTEN QUESTION
Social Security Benefits: Children (23 July 2024)
Question Asked
To ask the Chancellor of the Exchequer, what estimate her Department has made of the increase in the annual rate of GDP growth that would be required to fund the removal of the two-child benefit cap.
Asked by:
Chris Hinchliff (Labour)
Asked by:
Chris Hinchliff (Labour)
Answer
Had the UK economy grown at the average rate of OECD economies over the fourteen years from 2010, it would be £143.3 billion larger – worth £5,053 for every household in the country. This could have brought in an additional £58 billion in tax revenues in the last year alone to sustain our public services.
Sustained economic growth is critical to fund high quality public services and improve living standards.
Answered by:
Darren Jones (Labour)
30 July 2024
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