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The Government wants to build a fairer society in which everyone can contribute to and share in rising national prosperity. The Pre-Budget Report sets out the steps the Government is taking to tackle child and pensioner poverty, promote saving, ensure security for all in old age, and to build a modern tax system in which everyone pays their fair share.

The Child Tax Credit was introduced in April 2003, supporting families with children and helping to tackle child poverty. By October 2003, 10.5 million children were benefiting from the support it provides. The Pension Credit, introduced in October 2003, provides extra help for low and modest-income pensioners and rewards those who have saved for retirement. Around half of all pensioner households stand to gain from the Pension Credit.

In the Pre-Budget Report, the Government takes further steps to promote a fairer society, including:

• increasing support for families with children, through raising the child element of the Child Tax Credit by £3.50 a week to £1,625 a year, providing support for 7.2 million children;


• providing extra help for employer supported childcare in order to help people balance their work and family lives;


• reforms to promote fairness in the tax system through measures designed to close tax loopholes and tackle fraud, including the introduction of measures to help reduce levels of alcohol fraud.

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