Child Benefit

The once universal benefit is no more, higher rate tax payers will see their benefit dropped.

This amounts £20 a week lost, so around £1000 a year of lost income.

In some ways it is hard to argue that this should be a universal benefit, and it is surprising it has lasted this long in this form.

More worryingly is the thin end of the wedge, where over time this benefit will get increasingly squeezed and less and less people receive it.

In terms of government cut backs though, this is only the start...