Everything chancellor Jeremy Hunt announced about Universal Credit in autumn statement
22.11.2023 - 15:59
/ manchestereveningnews.co.uk
Chancellor Jeremy Hunt made some major announcements as part of today's autumn statement which will affect millions receiving Universal Credit from the Department for Work and Pensions (DWP).
Among them is a significant increase to a wide range of benefits, including Universal Credit, which could see average amounts rise by £470 for 5.5 million households, according to Mr Hunt. However, this comes with a caveat as the chancellor also announced more policies under the Back to Work Plan which will see punishments for those who ignore work placement.
The chancellor noted some charities' fears that uprating would be done by the lower October inflation figure. Despite this, Mr Hunt confirmed that September's higher inflation figure of 6.7 per cent would be used.
Read more: How much monthly DWP Universal Credit payments will be in 2024/25
Read more: 10 key announcements from Jeremy Hunt's autumn statement including major tax cuts
He told MPs: "In today’s autumn statement for growth our choice is not big government, high spending and high tax because we know that leads to less growth, not more.
“Instead we reduce debt, cut taxes and reward work. We deliver world class education. We build domestic sustainable energy.
“And we back British business with 110 growth measures – don’t worry, I’m not going to go through them all – which remove planning red tape, speed up access to the national grid, support entrepreneurs raising capital, get behind our fastest growing industries, unlock foreign direct investment, boost productivity, reform welfare, level up opportunity to every corner of the country, and cut business taxes.”
Mr Hunt confirmed that the government will increase Universal Credit and other benefits by 6.7 per