Regarding childcare over £100k - the net result of this is that if you get a pay rise into this pay region you end up poorer than if you hadn’t had the pay rise, what with the loss of personal allowance and everything. The net result is that people turn down promotions and pay rises as it’s not in their financial interest, setting back their careers when they could be earning more, paying more tax and spending more in the wider economy. Thus it could be argued that over the long term this policy costs the exchequer more in lost tax revenues than it saves in not having to pay for free childcare. Given such a massive proportion of the total tax take is paid by the highest earners we should be encouraging people to earn more.

I'm heading home tomorrow morning