Page last updated at 15:10 GMT, Tuesday, 22 June 2010 16:10 UK

Budget: Child benefit frozen for three years

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Child benefit will be frozen and tax credits reduced as part of the chancellor's Budget spending cuts, the Chancellor, George Osborne has announced.

Child benefit, the universal benefit payout received by all families, will be frozen for three years.

Tax credits, brought in by the previous government to help working families and people on low incomes, will be cut for households with a combined income of more than £40,000.

Those who fall below that will see the child part of the credit increased.

It will rise by £150, on top of rises to account for inflation.

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