Child benefit cut 'to hit 680,000'

Around 680,000 families will lose out if child benefit is cut for high-rate taxpayers, with almost one in four involving a household with one parent earning a salary, according to a new study.

Finance firm NFU Mutual said that if the Government goes ahead with the move, every household with a higher-rate taxpayer will be hit from April 2013, losing two-child families £1,750 a year.