Explanatory note

This Order is made by the Treasury as the consequence of a review, conducted by them under section 150 of the Social Security Administration Act 1992 (c.5) of the general level of prices. It details the amount mentioned in section 150(1) which it falls to the Treasury to determine in consequence of the transfer of functions in respect of guardian’s allowance under section 49(3) of the Tax Credits Act 2002 (c.21).

Article 1 provides for the citation and commencement of the Order.

Article 2 increases the weekly rate of guardian’s allowance prescribed in paragraph 5 of Part 3 of Schedule 4 to the Social Security Contributions and Benefits Act 1992 (c.4) from £12.50 to £12.95.

A full regulatory impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.

This Order does not impose any new costs on business.