💨 Abstract

Rachel Reeves is considering small tax increases in an upcoming UK budget to fund the lifting of the two-child benefit cap, a move costs estimates of ~£3 billion annually to reduce child poverty. Potential measures include a mansion tax, despite the Treasury denying preference for higher taxes. Labour figures and MPs, including Sir Keir Starmer, back the reversal. Lifting the cap could aid families immediately, potentially lifting ~350,000 kids out of poverty.

Courtesy: Kate Ferguson