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Budget 2004 Summary
Prudence for a purpose: A Britain of stability and strength
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Household income

  • Compared with last year, a single earner family with two children with earnings up to the median for full-time workers - £22,000 per year - will be at least £220 a year better off in real terms.

  • As a result of all personal tax and benefit reforms since 1997, from October 2004, families with children are, on average, £1,350 a year better off in real terms, while those in the poorest fifth of the population are, on average, £3,000 a year better off in real terms. A single earner family with two children, on average male earnings of £29,300, is £285 a year better off in real terms.

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