The government is due to make an announcement on benefit upratings at the end of the month
People on Universal Credit who have children could face a real-terms benefits cut of £1,000 a year if the government chooses to increase benefits in line with earnings instead of inflation, a think tank has warned. The Department of Work and Pensions has been told that low-incomes families with children will be the worst off if the government moves forward with the proposals.
Decisions on benefits uprating would usually be announced in November, with any change to come into effect the following April. It also projects that incomes for the poorest households will see a further significant fall next year – with prices expected to continue rising and temporary government grants to help with energy and the cost of living set to end. The income of a typical person in the poorest fifth of the population was already set to fall by 11 per cent in 2023-24 – the biggest drop since records began in 1962, according to the think tank.
Former chancellor Kwasi Kwarteng was set to announce the government’s decision on uprating benefits during his medium-term fiscal plan later this month, Downing Street had confirmed. However, Mr Kwarteng was sacked by Prime Minister Liz Truss on Friday after his mini-budget triggered weeks of market turmoil.
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