Child benefit is to be stopped for all higher rate taxpayers from 2013 to help pay for a massive overhaul of the welfare system, Chancellor George Osborne announced today.
The Government's plans to radically shake-up the welfare system could see benefits for the elderly, including winter fuel allowances, cut drastically as Britain claws back from the recession.
Chancellor George Osborne defended the Budget as "tough but fair" today as he accused the previous Labour government of leaving the economy in a "massive mess".