Yesterday (29th October) the Chancellor announced in the Autumn Budget two new measures to help Universal Credit claimants; £1 billion will be committed over five years to fund top-up payments for those migrated onto Universal Credit from other benefits, and the investment of an additional £1.7 billion per year to benefit working families on Universal Credit by increasing the work allowance – this is the money families can earn before losing benefits – by £1,000, worth £630 per year to around 2.4 million families and households.
Iain Duncan Smith MP for Chingford & Woodford Green said:
“The implementation of Universal Credit to help people back to work, is an enormous undertaking and I have been urging the Government to direct money back into Universal Credit exactly as the system was originally planned. The Government has already put £2 billion of the money that was taken out back in, you saw changes this time last year which helped enormously.”
“The announcement today that more cash is going back into the funding of Universal Credit is absolutely right and fair especially for those on or moving onto Universal Credit. This will benefit 2.4 million working families with children and people with disabilities. All in all this cash boost now amounts to an increase of £6.6 billion over five years, however I will continue at every opportunity to urge the government to invest more.