Significant Increase to Child Benefit

Families with more than one child will see a ‘significant’ increase in their child benefit payments as a result of today’s Budget.

Dr Alex Allinson has essentially reversed a cap on additional children introduced by the Bell/Teare administration.

Child Benefit – for first or only child in a family will rise (5.7%) for second and subsequent children (60.3%). Family with two children – up to an extra £12.05 per week/£626.60 per year; Family with three children – up to an extra £22.60 per week/£1,175.20 per year.

It is thought this will benefit more than 3,000 families who have more than one dependent child.

Other increases for families include an increase in maternity, paternity and adoption allowance, which will rise by 15% to a maximum of £241.50 a week. Maternity allowance standard rate will rise from £182.90 to £210.35.

The Bereavement Support Payment will rise by 6.7% and Employed Person’s Allowance, Income Support and income-based Jobseeker’s Allowance – basic personal allowances and allowances for children will rise by 5.7%.

Other increases:

Pensioners

• Under the ‘triple lock’ uprating – the basic state retirement pension and Manx state pension increase by 8.5%.
• Those in receipt of the full Manx state pension will receive an extra £18.83 each week, and £979.16 more over a year (based on 52 weeks).
• Additional pension (‘SERPS’) and Manx state pension protected amounts (6.7%).
• Around 20,000 pensioners will see their state pensions increased by between 6.7% and 8.5%

Sickness and Disability

• Incapacity Benefit (6.7%)
• Incapacity Benefit – permitted work higher weekly earnings limit (6.7%)
• Carer’s Allowance (6.7%)
• Carer’s Allowance – weekly earnings limit (6.7%)
• Attendance Allowance (5.7%)
• Disability Living Allowance (5.7% generally, 6.7% for higher rate mobility component)
• Nursing Care Contribution (6.7%)