
China releases plan for childcare subsidies, Xinhua reports
Subsidies will be handed out starting this year, and children under the age of three who were born before 2025 are also eligible for some subsidies.
($1 = 7.1718 Chinese yuan renminbi)

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


The Sun
15 minutes ago
- The Sun
Households can get FREE supermarket vouchers or council tax credits worth £150 NOW
FAMILIES are getting a £150 boost which they can receive as a supermarket voucher, a virtual energy card or a council tax credit. The leg-up comes from the government's Household Support Fund (HSF) - a huge £742 million fund available to councils across England. 2 The HSF is a government-backed scheme designed to help vulnerable households with essentials like food, energy bills and other living costs. Each council in England is allocated a portion of the £742 million fund, which it then distributes to residents struggling with the rising cost of living. Bromley London Borough Council is distributing payments of £150 to successful applicants through HSF. The money can be used for a virtual energy card, a supermarket voucher or credit added to a council tax account. Who is eligible for the support? Those over the age of 16 who are Bromley borough residents with a Bromley postcode. Priority will be given to first time applicants, according to Bromley Council's website. From May 27 to August 31 2025, the Council will process applications from: First time applicants Those who have not received support from HSF5 and/ or HSF6 between April 2024 and March 2025 From September 1 to March 31 2026, the Council will process applications from: First time applicants AND all others that meet the eligibility criteria, such as those awarded support from HSF5 and/or HSF6 between April 2024 and March 2025) Stop Making This Air Conditioning Mistake: How to Slash Your Summer Energy Bill All applicants will be required to prove the following: They have rent, energy, council tax or other financial arrears They have an income They are unable to meet their arrears in the form of bank statements for the last three calendar months Who is not eligible for the support? Those who are a family in receipt of school holiday vouchers Those living in temporary accommodation outside of the borough How can people apply? To claims the awards, this application must be completed. The Council only accepts applications through its website. Those who need help with their online application can call the enquiry line on 020 8461 7999. The line is open Tuesday, Wednesday and Thursday mornings between 9am and 12 noon. When will applicants know the Council's decision? The Council says it aims to response within three weeks of each individual's application submission date. Applicants will be notified of the Council's decision by email or post. What about those who don't live in Bromley? Councils across the country are actively paying out to families through the Household Support Fund scheme. Leicestershire is issuing hard-up households electronic fuel vouchers worth up to £98. Wealden District Council is handing out up to £200 to those on certain benefits. Meanwhile, low-income families in West Berkshire can claim up to £300 if they have three or more children. Household Support Fund explained Sun Savers Editor Lana Clements explains what you need to know about the Household Support Fund. If you're battling to afford energy and water bills, food or other essential items and services, the Household Support Fund can act as a vital lifeline. The financial support is a little-known way for struggling families to get extra help with the cost of living. Every council in England has been given a share of £742million cash by the government to distribute to local low income households. Each local authority chooses how to pass on the support. Some offer vouchers whereas others give direct cash payments. In many instances, the value of support is worth hundreds of pounds to individual families. Just as the support varies between councils, so does the criteria for qualifying. Many councils offer the help to households on selected benefits or they may base help on the level of household income. The key is to get in touch with your local authority to see exactly what support is on offer. The last round ran until the end of March 2025, but was extended. The current round is running between April 2025 and March 2026. 2


Telegraph
15 minutes ago
- Telegraph
HMRC plans new private school tax grab
The Government is preparing a fresh tax grab on private school parents after Britain's richest families paid hundreds of millions of pounds of fees early to avoid VAT. HMRC will target schools where families paid several years' school fees in advance ahead of the 20 per cent levy coming into force on Jan 1 2025, meaning the payments were not taxed. Officials believe they will be able to claim that flaws in some of the advance schemes will mean tax is due after all. It comes after The Telegraph revealed on Monday that there was a surge in pre-paid fees at the top 50 private schools last year, up to £515 million, up from £121 million in 2023. Government sources said that HMRC would now 'carefully scrutinise' pre-payments amid concerns that some schools may have abused them to avoid VAT. Internal Treasury communications obtained by The Telegraph show the Government expects lengthy legal battles between HMRC and private schools as a result. A briefing note sent by Treasury officials to the Chancellor's team last summer said that 'the more egregious the [prepayment] scheme, the more easily we would expect HMRC to be able to recoup the revenue'. Private schools were deluged with fee pre-payments last year after Labour confirmed in its election manifesto that it would charge VAT on fees for the first time.


Reuters
18 minutes ago
- Reuters
Mexico reveals sweeping plan to bring down Pemex debt, boost investment and lift production
MEXICO CITY, Aug 5 (Reuters) - Mexico's government on Tuesday said it aimed to cease funding Pemex by 2027 when the highly-indebted state energy company should become financially self-sufficient, helped by a series of measures to bring down debt and stabilize production. Mexican President Claudia Sheinbaum, flanked by her energy and finance ministers and the chief executive of Pemex, told a press conference that by 2027, Pemex "will no longer need the finance ministry's support." Pemex reported last week a financial debt of around $99 billion and a debt to providers of around $23 billion, which is down from earlier years but still has investors worried. In recent years, Pemex has received what the government has often called unprecedented support, mostly in the form of capital injections, refinancing of debt, tax reductions and credit lines. Later in the day, the government presented a ten-year plan in which it laid out steps on how to achieve its goals to make Pemex financially self-sufficient. In it, the government said that 21 so-called mixed contracts could help lift declining production by as much as 450,000 barrels per day (bpd). At the same time, it would refine more at home and therefore reduce crude oil exports to 393,100 bpd in 2035, from 487,900 bpd in 2026. The target for local crude oil processing, including at the new Olmeca refinery in the port of Dos Bocas, is 1.3 million barrels per day. This would help wean the country off gasoline and diesel imports. Officials reiterated the government's ambition to pay down debt - both maturing bond debt and what the company owes to providers. To achieve all this, a new government-backed investment vehicle will seek to raise up to 250 billion Mexican pesos ($13 billion) for Pemex projects in 2025 alone. It follows a $12 billion debt offering to ease Pemex's short-term financial pressures and support debt refinancing, announced last week. This year, $5.1 billion of bond debt is due for repayment, followed by $18.7 billion for next year, and $7.7 billion for the year after. Finance Minister Edgar Amador said that through a capitalization and financing strategy currently underway, Pemex's financial debt should close this year at $88.8 billion and at $77.3 billion by 2030. Pemex Chief Executive Victor Rodriguez also outlined several additional initiatives, including for the development of the Zama and Trion fields and returning to other fields with potential to lift production. In addition, Pemex intends to build three new pipelines. ($1 = 18.8228 Mexican pesos)