No matter how much money you earn, raising a child is expensive. Factor in high average childcare costs, with a generally high cost of living, and parents can quickly feel the squeeze on their family budgets.
The government offers help with the cost of raising a child in the form of child benefit, which has been a hot topic in recent government announcements. Back in the Autumn Budget 2023, Chancellor Jeremy Hunt announced that child benefit, along with a host of other benefits, would be going up in 2024, while 2024's Spring Budget saw the government pledge to shake up the child benefit system.
