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And mortgage interest is tax-deductible, a big advantage for high earners with large houses.
Meanwhile higher earners, with or without children, are to be given a new tax break.
There is also welcome progress on helping low earners with childcare costs.
The inevitable result is high housing costs squeezing middle-income earners, with displacement and gentrification pushing out low-income earners.
The government's measures will affect only the top 4% of income earners with $1.6m in their retirement accounts.
More wives would work if our progressive income tax structure didn't sock second earners with high marginal rates.
"They want higher earners with large deposits, as well as a credible plan to repay the mortgage".
The UK has by far the highest number of high earners, with over 2,000 people earning over €1m.
Middle-income earners with children fared worse, losing tax credits and, among the better off, child tax benefit.
My two were good earners, with their value rising 50 to 75percentnt even after conversion costs," he says.
The biggest beneficiaries of the tax cuts are high-income earners, with median-incomes earners – especially women – largely ignored.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com