The 2017 Budget was announced by Chancellor Philip Hammond on Wednesday, marking the first full update since the EU referendum and the vote for Britain to leave the EU. The Chancellor vowed to help "make an economy that works for everyone", but did he stay true to his word? We've broken down how some of the new announcements will affect mums – for better or worse.
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Tax-Free Childcare:
Tax-free childcare is confirmed to start in April, meaning that up to £2,000 will be put towards childcare costs for each child up to the age of 12. For each 80p you pay in childcare, the government will add another 20p – up to £10,000 of spending. The scheme is available for children up to the age of 12, and the tax relief is doubled for children with disabilities. This could prove a big help to some families, however others have argued it is still not enough to help meet the soaring costs of childcare.
© Photo: iStockFree Childcare Entitlement:
From September, working parents with three and four year olds will get their free childcare entitlement doubled to 30 hours a week. This is said to be worth around £5,000 a year to a young family with a three year old and both parents in work.
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Education:
The government's free school transport scheme has been extended. The Chancellor said that free transport will be provided to children on free school meals, or whose parents are on the Maximum Working Tax Credit, to selective schools. Funding of £320million has been provided for 110 new free schools to take the total in the UK to 500. Meanwhile a further £216million will be invested in school maintenance.
© Photo: iStockReturn to work funding:
Funding of £5million will be provided to support people returning to work after a career break, which could be particularly beneficial to mums looking to return to the workplace.
