Cameron ‘won’t be taking up’ new childcare tax break

David Cameron will not be taking advantage of a tax break for childcare, worth up to £2,000 (€2,382) per child each year.

The scheme, unveiled on the eve of today’s budget and due to come into effect in autumn 2015, will help around 1.9m families with children aged under 12 where both parents work, at a cost of around £750m.

Mr Cameron said the policy would be “a huge help to millions of families across Britain”, allowing parents to make the choice to work longer hours.