Rachel Reeves has declared that the Government will abolish the two-child benefit cap from April 2026. Previously, parents were only able to claim the child element of Universal Credit or Child Tax Credit for their first two children.

This fresh announcement means that families can claim for all their children, resulting in an additional £292.81 per month per extra child. Antonia Medlicott, founder and managing director of Investing Insiders, suggested that parents could stretch this money further and potentially secure £30,000 for each child.

She advises parents to invest this money, or at least a portion of it, in a Junior Cash ISA, which could leave their children with over £30,000 by the time they reach adulthood, reports Devon Live .. Meanwhile, using a Stocks and Shares Junior IS

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