Chancellor Alistair Darling has announced families with one and two-year-olds will get an extra £4 a week in child tax credits.

As part of today's Budget report, he announced the increase will apply from April 2012.

Childcare tax credit is a means-tested benefit, with an average payout of approximately £68 per week.

Darling said this is "extra money which will be paid for all children who need it, whether their parents are married, living together, or living apart".

Further reading/key links

Get the best rate for your child's savings: Child Trust Funds
See what you're entitled to: Five-Minute Benefit Check
Claim free childcare cash: Tax Credits

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