Explanatory note

Article 2 increases the weekly rate of child benefit from £20.50 to £20.70 and from £13.55 to £13.70 (enhanced and other rate, respectively).

Article 3 increases the maximum rates of the child element of child tax credits (including qualifying young people) from £2,750 to £2,780.

Article 4 increases the maximum rates of the basic element, the 30 hour element, the second adult element and the lone parent element of working tax credits by one per cent (rounded up).

A full Impact Assessment has not been produced for this instrument as no impact on the private or voluntary sector is foreseen.