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TikTok warns US divest-or-ban law would pose risk to free speech

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Good morning. Today we’re covering:

But we begin with TikTok, which was in court yesterday fighting for its survival in the US.

A lawyer for the social media app urged a US federal appeals court to block a law that could soon ban the platform in the country over national security concerns related to its Chinese parent.

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Andrew Pincus, a partner at Mayer Brown representing TikTok, argued that the consequences of such a move would be “staggering” for free speech. He added that the government had “not come anywhere near” proving the constitutionality of the law and pushed back against the argument that the video app was controlled by China.

Under the law signed by President Joe Biden this year, TikTok will be banned in the US if it does not divest from its parent ByteDance by January 19, 2025 — the day before the next US president is inaugurated.

US officials have warned that Beijing could compel the parent group to share the personal information of its 170mn American users for espionage purposes or manipulate what users see for propaganda purposes.

Here’s more on TikTok’s legal battle — and why the court appeared sceptical of the app’s argument.

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Here’s what else I’m keeping tabs on today:

  • Economic data: The US reports August retail sales while Japan publishes revised retail sales for July.

  • Holidays: Financial markets are closed in China and Taiwan for the Mid-Autumn Festival, and in South Korea for the Chuseok harvest festival.

Five more top stories

1. Japan’s yen has strengthened past ¥140 to the dollar for the first time since July 2023 ahead of rate decisions by US and Japanese central banks this week that are expected to weaken demand for the US currency. The yen has risen 13.5 per cent against the dollar since mid-July as investors expect the Federal Reserve to begin cutting interest rates from a 23-year high.

2. US prosecutors have filed gun charges against the man suspected of an apparent effort to kill Donald Trump, the second attempted assassination against the Republican presidential candidate in just over two months. Ryan Wesley Routh was charged yesterday less than 24 hours after he was spotted by Secret Service agents who were protecting Trump as he played golf in Florida.

  • Explainer: Here is what we know so far about Sunday’s security incident in West Palm Beach, Florida — and what it could mean for both candidates.

  • More on the suspected gunman: Ryan Routh had tried — and failed — to help Ukraine fight Russia after Moscow’s full-scale invasion in February 2022. He spoke to the FT last year about the experience.

3. Taiwan’s financial regulator has blocked a hostile takeover of financial group Shin Kong, clearing the way for it to merge with rival Taishin Financial Holdings in a $16.6bn friendly deal. Taishin’s president had called for regulators to block rival Chinatrust’s tender offer for Shin Kong, warning that it could undermine the banking sector’s ability to support the globalisation of Taiwanese tech companies.

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4. Iran’s reformist president, Masoud Pezeshkian, has signalled a renewed openness to resuming nuclear negotiations with western nations. In his first press conference with local and foreign media, Pezeshkian also denied that his country had supplied ballistic missiles to Russia since he took office seven weeks ago.

5. The Labour chair of the business select committee has called on his own government to prohibit the import of products made by forced labour in the Chinese region of Xinjiang as he called for greater scrutiny of Shein’s potential listing in London. Here’s what Labour MP Liam Byrne told the FT.

Interview: Natarajan Chandrasekaran

Natarajan Chandrasekaran
Chandrasekaran says how businesses such as Tata handle mistakes ‘is what differentiates between a good and bad company. I don’t like putting things under the carpet’ © Charlie Bibby/FT

After running the Paris marathon during the Olympics, the chair of India’s Tata Sons took a 12-day trekking trip in the Himalayas to give himself time to think. “My biggest strength, if you ask me, is that I reflect a lot. That’s what I’m good at,” says Natarajan Chandrasekaran. The 61-year-old Chandrasekaran, known as Chandra, has a lot to stew over as the $365bn Indian group undergoes multiple changes he described as “painful” but necessary to prepare for the future.

We’re also reading . . . 

  • US-China rivalry: The whole world risks losing from the competition between Washington and Beijing, writes Gideon Rachman.

  • US interest rates: With fears about inflation giving way to fears about jobs, the Fed is poised this week to announce its first interest rate cut since the pandemic. Colby Smith previews the “momentous” meeting.

  • Apollo vs banks: Led by a onetime dealer in death benefit settlements, the asset manager is taking on the biggest traditional lenders in funding highly rated multinationals.

Chart of the day

Home appliance maker Midea is set to raise about $4bn in a secondary listing in Hong Kong, making it the market’s biggest debut in more than three years. But that does not yet signal a broader revival in public offerings, according to analysts, with Hong Kong and Chinese mainland markets mired in one of their worst years for listings in the past decade.

China and Hong Kong exchanges have slipped in the IPO rankings

Take a break from the news

Among the many experiences in modern working life that can provoke ire and irritation, the panel discussion elicits a particular form of dread. But fear not: Viv Groskop has proposed a recipe for success so that your next panel isn’t ruined by droning participants or egoistic chairs.

Three chairs in a row
A great panel is more work, requires more skill and is riskier than most solo performances or interviews © Rainer Puster/Getty Images/iStockphoto

Additional contributions from Gordon Smith and Tee Zhuo

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UK launches new task group to improve aviation accessibility

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UK launches new task group to improve aviation accessibility

The Aviation Accessibility Task and Finish Group will be led by Paralympian Baroness Tanni Grey-Thompson

Continue reading UK launches new task group to improve aviation accessibility at Business Traveller.

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How to survive a trade war with the United States

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​​Sam Lowe is a partner at Flint Global, where he advises clients on UK and EU trade policy. He is also a senior visiting fellow at King’s College London and runs Most Favoured Nation, a newsletter about trade.

Donald Trump’s trade ideology can be summarised as: exporting things is good; importing things is bad.

Writing for mainFT ahead of last week’s vote, Trump’s once (and possibly future) trade chief Robert Lighthizer provided a neat précis of what will drive the new administration’s approach to trade:

Countries that run consistently large surpluses are the protectionists in the global economy. Others, like the US, that run perennial huge trade deficits are the victims.

And in this world in which the largest and most powerful economy on earth is a victim, consistent large trade surpluses with the US mean one thing and one thing only: tariffs.

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So, who might be on Donald’s [s]hit list?

To give a crude idea, I have created a new ranking I shall name (with the helpful input of Louis), the Measure of American Goods Advantage, or MAGA, index.

Using a data on US goods exports/imports from 2020-2022 (note: neither Trump nor Lighthizer seem to care about services trade, so, like them, I have pretended services don’t exist), I have divided countries’ trade balances with US by their total to create the following EXTREMELY CRUDE schema: 

In summary: if you have a score greater than zero (on the x-axis above), Trump’s got his eye on you.

If your score is between 50 and 90, then you should probably hope the US forgets you exist.

If you have a score greater than 90, then… well to be honest it’s probably because you’re a small island nation (I’m looking at you Faeroe Islands, Falkland Islands and Pitcairn — 97.79, 97.16, and 92.19 89.5, 70.2, and 30.1 respectively) or you are Lesotho (96.89) or Cambodia (92.10).

Of the significant (randomly chosen by me) economies lodging persistent surpluses with the US, Vietnam scores highly (82.02), as do Ireland (70.11), Thailand (58.92), Bangladesh (58.77), China (3.7), Malaysia (55.53), Denmark (54), Indonesia (53.00), Switzerland (43.28), Germany (35.22), India (31.22), Japan (30.98) and Mexico (18.24).

On the other hand, the UK persistently buys more from the US than it sells (-6.79) as do Singapore (-7.84), Brazil (-15.75), Belgium (-15.8) and the UAE (-51.72). A big shout out, I guess, to South Sudan with a score of -99.66.

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Now, of course, countries won’t be solely judged on the size of their persistent surplus/deficit. There are many other ways to find yourself on the [s]hit list, and the MAGA index doesn’t account for the actual value/volume of trade under consideration.

But, y’know, it’s certainly a factor.

So what happens next? My working assumption is that there will be a (close to) universal tariff uplift, in the 10-20 per cent range, with a higher tariff applied to China. However, beneath the headline there will be a large number of company- and country-specific derogations. 

I have written about the possible company-specific exemptions elsewhere, and there is fairly robust academic evidence from the last Trump administration and the experience of his China tariffs that — unsurprisingly — proximity to the regime results in better outcomes.

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Here’s the abstract for the paper linked above (emphasis added):

We investigate whether firm-level political connections affect the allocation of exemptions from tariffs imposed on $550 billion of Chinese goods imported to the United States annually beginning in 2018. Evidence points to politicians not only rewarding supporters, but also punishing opponents: past campaign contributions to the party controlling (in opposition to) the executive branch increase (decrease) approval likelihood. Our findings point to quid pro quo arrangements between politicians and firms, as opposed to the “information” channel linking political access to regulatory outcomes.

So… if you haven’t already started making friends with the new President and his buddies, there’s no time like the present.

On the country-specific exemptions, my working assumption is that the EU, UK, Japan, etc will face three categories of request: 

—‘Buy more American stuff (or export less of your own stuff);

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— ‘Support me in my global endeavours’ (see: trade restrictions on China); and
— ‘Miscellaneous, other’. 

The higher a country scores over 0 on the MAGA index, the greater the focus on ‘Buy more American stuff’. To put it another way: there are going to be a lot of deals, but they might not be traditional free trade agreements. 

Taking them one at a time:

‘Buy more American stuff’ (or export less of your own stuff)

To give an idea of what this could look like, we need look no further than the deals done under the first Trump administration.

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In March 2018, to ensure an exemption from Trump’s Section 232 tariffs, South Korea agreed to a ‘new’ [slightly amended] trade deal which saw it “voluntarily” restrict the export of Korean steel to the US, increase a compliance-related quota for US auto imports from 25,000 a year to 50,000, exempt most US autos from stricter Korean CO₂ emission requirements, accept a delay in the phase of a US 25 per cent tariff on light trucks (originally 2021, now 2041), and change Korea’s medical procurement rules to ensure they pay market value for US-produced medicines.

In a similar attempt to avoid the Section 232 tariffs, in 2019, Japan agreed a deal with Trump that granted the US CPTPP levels of tariff reductions for US food exports (note: Trump had pulled the US out of the then-TPP) without receiving CPTPP levels of access to the US market for Japanese autos in return. 

But of all the deals done during Trump’s first Presidency, my fave is easily the EU’s. Erstwhile European Commission President Jean-Claude Juncker managed to talk Trump out of applying car tariffs to the EU by telling Trump the EU would commit to buying more American soyabeans and liquefied natural gas. Did Juncker have any power to actually make this happen? No. Did Juncker simply identify a trend that was happening anyway? Yes. Did it work? Seemingly! Genius.

So what will Trump want this time? As per last time, it really depends on the market/country. 

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Take the EU. Along with asking the EU to exempt US exports from its Carbon Border Adjustment Mechanism, Trump will probably ask the bloc to buy more US cars, buy more food, and export less stuff back Stateside. This would require a change in EU consumer preference and tariff elimination (for the cars), a change in safety rules and tariff elimination (for the food) annnnnd a change to Germany/Eurozone’s entire growth model (in order to export less stuff). So, not easy!

It might be easier in theory for the UK to do something, but the food safety issue (chlorine chicken) remains a bit of a political minefield.

If I were in charge of anything (I’m not), I would be looking at the defence budget and mapping out where I was planning to buy American kit, or might consider buying American kit, and packaging it up into something with a big number attached to present to Trump when he comes knocking. You probably also want to take a view on the pros and cons of a certain Trump-adjacent space company, because you’re going to get asked.

‘Support me in my global endeavours’

I assume the conversation with lots of countries, including those scoring below 1 on the MAGA index, will go something like this: “As well as buying more stuff from us, if you want to avoid the universal tariff you need to impose high tariffs on Chinese imports”. 

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This will create a dilemma for the UK, EU and others. Assuming that China would retaliate to any blanket tariffs, countries will forced to choose between the US blanket tariff and the Chinese retaliatory tariffs.

In practice it probably won’t be quite so binary, and countries may try to placate Trump with commitments to impose tariffs they were considering anyway. For example, the EU has already imposed anti-subsidy tariffs on Chinese electric vehicles, as well as lots of trade defence tariffs covering products such as steel, bikes, graphite, biodiesel and others, so may try to placate him by initiating new investigations into products such as EV batteries, solar, and wind turbines.

The UK, which already lags behind most of the G7 in ‘slapping tariffs on China’, could introduce a few more to bring itself in line with the G7 average and hope that China doesn’t get too annoyed.

Under this category, you also have conversations around coordinating export controls and sanctions.

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‘Miscellaneous, other’ 

Given it’s Trump, there are quite a lot of other things a country might want to try to do to keep him happy. For example, you could invite him to meet the Royal Family, give him a big shiny Orb, stop trying to regulate his mate’s company, approve a golf course, etc.

But will any of the above work? For some countries: sure, to an extent. There will be tariffs, but not everyone will be treated equally. It all depends on what he asks for, and the extent to which a country is able to deliver it (or, as per Juncker, pretend to deliver it.).

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What is Elon Musk’s net worth? How Tesla shares zoomed after Donald Trump wins election- The Week

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What is Elon Musk's net worth? How Tesla shares zoomed after Donald Trump wins election- The Week

With shares if Tesla surging after Donald Trump’s election victory, Elon Musk’s net worth surpassed $300 billion, according to Bloomberg Billionaires Index.

What is Elon Musk’s exact net worth?

Tesla stock soared around 28 per cent, taking Musk’s fortune to $313.7 billion with a leap of $50 billion. The business mogul, who owns X, is the biggest gaining individual since Trump’s emphatic victory.

However, this is not the first time Trump’s net worth crossed the $300 billion mark. In 2021, his fortune was touched an all-time high of $340.4 billion. 

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This comes after the President-elect announced that his policies would benefit the SpaceX founder, including support for the astronautics firm’s push to reach Mars.

Musk, on the other hand, had donated a whopping $1 million to Trump’s presidential race.

Another move by Trump in Musk’s favour was backtracking from his July announcement to slow the transition to electric vehicles. In August, after Musk backed and donated for the Trump campaign, the Republican said, “I am for electric cars. I have to be, because Elon endorsed me very strongly.”

A strong earnings report by the car-maker also boosted Musk’s fortune in mid-October, raising his net worth by $34 billion in a single day.

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The Republican has also hinted that Musk will be given the role of an advisor.

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Mixed news on China’s stimulus

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This article is an on-site version of our Unhedged newsletter. Premium subscribers can sign up here to get the newsletter delivered every weekday. Standard subscribers can upgrade to Premium here, or explore all FT newsletters

Good morning. A question for readers: will we see a significant shift in consumer sentiment now that a change in presidential administrations is coming? As a reminder, the University of Michigan sentiment index, at 70, is 40 per cent off of its 2022 lows, but still well below historical averages. Will there be a step change in the next survey or two, or a continuation of the current trend? Send us your thoughts: robert.armstrong@ft.com and aiden.reiter@ft.com

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Chinese stimulus

Holders of Chinese equities got mixed news on Friday. At the National Peoples’ Congress meeting, the government announced an Rmb10tn ($1.4tn) fiscal package to bail out local governments’ bad debts. The package itself, following the pattern of recent stimulus measures, is underwhelming. The Shanghai and Shenzhen CSI 300 stock index and the Rmb edged down on the news: 

Bad debt is a problem for China. Chinese local governments, which are not able to issue their own bonds, have traditionally used financing vehicles similar to investment companies to borrow money; after the real estate market crash, many provinces could no longer use land sales to pay back those loans, resulting in bad “hidden” debt not on their official balance sheets. Swapping out the debt will limit financial risks and free up spending capacity, at a moment when many local governments have cut back on public services. But the size of the relief is relatively small. From Tianlei Huang at the Peterson Institute:

The impact of this package on the immediate economic situation will be limited. [Finance minister Lan Fo’an] estimates that local governments will save about Rmb600B [$83bn] in interest payments over five years. [Rmb120B, or $17bn] each year is just too small to make a difference . . . the actual spending [by the local governments] so far this year is almost Rmb3tn [$417bn] lower than the amount that was budgeted [for] this year. 

Rmb10tn is probably not enough to make a lasting dent in the hidden debt problem. While Lan said there is around Rmb14.3tn ($2tn) in hidden debt on provinces’ balance sheets, the IMF put the number at Rmb60tn in a report last year. On top of that, the Rmb10tn number is not all new commitments. While Rmb6tn of new debt will be issued for the debt swap facility, Rmb4tn is debt that was already available to local governments for related purposes. 

Without more muscular stimulus, chances that the economy will hit the government’s 5 per cent growth target this year remain low. But more may be forthcoming. The MOF meeting in October laid out four goals of the stimulus, of which resolving local hidden debt was the first (followed by boosting bank lending, stabilising the real estate market, and supporting consumers). While we are not sure they will continue to be rolled out in the announced order, statements made by Lan imply the government will deliver on the other three goals. 

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Markets have been impatient for details on the stimulus. The timing of this package, right after the US election, suggests that the Chinese government was waiting to learn who would win the White House before making strong financial commitments. And the scale of this package raises the possibility that the government is saving its fiscal firepower in order to respond to the Trump administration’s eventual China policies. A more concrete and substantial fiscal package may emerge soon.

(Reiter

Regional banks

Regional banks rallied furiously after Donald Trump was elected. The KBW Regional Bank Index, which has been a terrible performer for years, is 12 per cent higher than the day before the election. Does this make sense?

The reasons to be bullish on banks under the new administration are something of a grab-bag. Lighter regulation should help a bit, though Basel “endgame” capital rules have already been watered down. The Consumer Financial Protection Bureau’s cap on late credit card fees, currently in legal limbo, seems likely to disappear now, which will help issuing banks. And it appears that bank investors never believed Trump’s own promise to cap interest rates on cards at “around 10 per cent.”

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Lighter touch regulation of mergers will certainly help big banks with merger advisory operations. But it could help the regionals, too. Consolidation among midsized banks makes economic sense in an industry dominated by a few large players. But it is not clear — at least to Unhedged — that merger rules were the most important bottleneck to consolidation. The problem, instead, has been getting the management teams of acquisition targets to give up their prestigious, well-paid jobs. This is what made the 2019 merger of BT&T and SunTrust, creating Truist, so remarkable. 

More important is Trump’s impact on interest rates. If you believe that Trump means high deficits, low taxes, and high growth, all that suggests that the Fed will keep short term interest rates relatively high. And high — but not too high — short term rates are good for banks. Here is a chart of the US banking industry’s net interest income plotted against the policy rate:

Line chart of % showing Higher short rates are good for bank profits

The magnitude of the changes in net interest margins is much lower than the magnitude of changes in the Fed policy rate. But remember that very small shifts in net margins make big differences in banks’ net income. And while many banks have sources of revenue that are not rate sensitive, for regional banks, interest margins are important.

At the same time, the old cliché that banks borrow short and lend long still persists. This would suggest that bank margins are better when the yield curve is steep. To the degree that a given bank has a significant amount of long-term bond or mortgage assets on its balance sheet, this may be true. But in the last five years, the relationship in the industry has been almost the opposite of what the cliché would suggest (note that this chart is quarterly, so it does not capture the recent steepening of the yield curve):

Line chart of % showing Borrow short, lend long, not

But here is the weird thing: financial reality and market perception are different. One bank analyst of long experience noted to us that while the yield curve is not particularly important for regional bank profits, buying regional banks when the curve steepens is a “turn off your brain trade”. Whether it matters for earnings or not, bank stocks rise on a steepening curve. Here is the KBW regional bank index and the Treasury curve:

The relationship is sloppy in detail, but it is clear that big moves in the curve move bank stocks. 

So a key question for regional bank stocks is whether the curve will continue to steepen; if it doesn’t, the nascent rally may stall. Many economists have argued that Trump’s policies are, on balance, inflationary. If that’s right, and the Fed has to lean policy against them, the curve may stay flat. But Trump, and his policies, have been known to surprise people.

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Amsterdam Schiphol unveils Lounge 1 expansion

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Amsterdam Schiphol unveils Lounge 1 expansion

Existing areas including a car park have been converted into 5,000 sqm of additional passenger space

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Exact amount DWP payments for parents will rise next year including child benefit and tax credits

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Full list of DWP benefits and free cash you can claim with PIP

PARENTS who get benefits should see payments rise by 1.7% from next April, helping them to manage the increasing cost of living.

Chancellor Rachel Reeves, confirmed in the Budget that all working age benefits would be going up in line with the Consumer Prices Index (CPI) inflation rate.

Benefit payments will increase next year for millions of claimants

1

Benefit payments will increase next year for millions of claimantsCredit: Alamy

That means that everything from Universal Credit to Child Benefit will increase by this amount.

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For parents specifically, the child specific elements of various benefits will also increase by 1.7%.

However, working-age people may feel hard done by compared to pensioners, because the State Pension is protected by something called the triple-lock.

This means that the State Pension will rise by 4.1% compared to the lower than 2% rise that everyone else will receive.

We’ve crunched the numbers on the benefits aimed specifically at parents, to see how much they’ll increase by. Here’s what you need to know.

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Universal Credit

Universal Credit is the standard benefit for working-age people in the UK, replacing several legacy benefits.

The government has slowly been moving people across to this benefit since its introduction in 2013, with a view to stopping benefits such as child tax credit, housing benefit, income support, jobseeker’s allowance, employment and support allowance, and working tax credits.

Almost all new benefit claimants are enrolled under Universal Credit, and the aim is for everyone on legacy benefits to be moved across by the end of next year.

Like most benefits, Universal Credit will increase by 1.7%, which the government says will see around 5.7 million families gain £150 on average over the next tax year.

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Understanding the Two-Child Benefits Cap

Exactly how much you’ll get depends on how your family is made up and which elements you receive, but for joint claimants where one or both are 25 or over, the standard allowance will rise from £617.60 to £628.099.

Parents will also see an uplift in the monthly child element:

  • For those with a first child born before April 6, 2017, the extra amount will go up from £333.33 to £338.99
  • For those with a child born on or after April 6, 2017, or a second child, the extra amount will go up from £287.92 to £292.81
  • For those with a disabled child, the lower rate additional payment will rise from £156.11 to £158.76 and the higher rate from £487.58 to £495.86

Child Benefit

Child Benefit is designed to help with the cost of raising a family in the UK.

It’s paid every four weeks and currently worth £1,331.20 for the eldest eligible child and £881.40 for all subsequent eligible children.

From April 6, 2025 this will increase to £26.04 for the eldest and £17.24 for each extra child.

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You can claim child benefit for any child aged under 16.

If your child stays in approved education (such as doing A-levels or Scottish Highers), you can keep claiming until your child is 20.

If they leave approved education, for instance to go to university, you stop getting the money.

While anyone can claim the benefit, if you or your partner earns £60,000 or more, you start having to pay some of the money back.

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Once either of you earns over £80,000 (individually) you have to pay all of it back.

Despite that, it’s often worth claiming because it also gives you national insurance credits if you have a child under 12.

These are really important if one parent is either a stay-at-home parent, working part time, or on a low income, because it helps build up State Pension entitlement.

Child Tax Credit

Child tax credits are due to stop from April next year, so the amount you get won’t increase. However, you may be able to claim Universal Credit, and get the child elements outlined above, which are rising by 1.7%.

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Housing Benefit

Housing benefit is stopping for most people by the end of 2024, however the government says that it will continue to pay it for people who live in supported or temporary accommodation.

There are different rules for people who are above state pension age, who may continue to get the benefit.

If you get Housing Benefit, you should receive something called a managed migration notice that explains about your switch to Universal Credit.

It’s really important to respond to this, because otherwise your benefits might stop and you’ll miss out on important transitional protections.

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Carer’s Allowance

You can claim Carer’s Allowance if you care for someone at least 35 hours a week and they get certain benefits.

These include:

  • Personal Independence Payment – daily living component
  • Disability Living Allowance – the middle or highest care rate
  • Attendance Allowance
  • Pension Age Disability Payment
  • Constant Attendance Allowance at or above the normal maximum rate with an Industrial Injuries Disablement Benefit
  • Constant Attendance Allowance at the basic (full day) rate with a War Disablement Pension
  • Armed Forces Independence Payment
  • Child Disability Payment – the middle or highest care rate
  • Adult Disability Payment – daily living component at the standard or enhanced rate

The rate will go up from £81.90 to £83.29 a week.

The threshold at which you become ineligible for carer’s allowance – known as the “cliff edge” will also rise from April.

Maternity, paternity, adoption and shared parental pay

If you’re pregnant or hoping to be next year, then you might be thinking about maternity, paternity, or adoption leave.

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While many employers are more generous, for a lot of people this means looking at the statutory rates, which are typically 90% of average weekly earnings or £184.03 – whichever is lower.

All of these benefits will also increase by 1.7% from the beginning of next April from £184.03 a week to £187.16.

Maternity Allowance

New mums who don’t qualify for standard maternity pay could still get a payment adding up to thousands of pounds from Maternity Allowance.

This will also rise from £184.03 a week to £187.16 from April 2024.

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Child benefit

Everything to know about child benefit:

Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.

Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories

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