Business News 19 Mar 2013

Budget 2013: Government announces new tax-free childcare scheme

The Government has unveiled plans for a new tax-free childcare scheme in a bid to reduce the cost of childcare for working families.

It is thought that the initiative, which was announced ahead of Wednesday's Budget, will ultimately benefit around 2.5 million families.

Under the scheme, eligible parents will be able to save up to 20% of their total childcare costs, or £1,200 per child, with effect from 2015.

The scheme will initially be available to parents of children under the age of five, although it will eventually be extended to include all children under 12.

Read more at http://tinyurl.com/clacc5v