Autumn Statement & Welfare Benefits

The Autumn Statement made an number of announcements regarding welfare, most had been stated previously. The reduction of the Universal Credit taper rate from 65% to 63% was, however, a new announcement. 

The Joseph Rowntree Foundations' analysis of the impact of the Statement was that "many families will gain by modest amounts of a few pounds a week from the reduction in the Universal Credit taper rate and the rise in the income tax personal allowance.  However these gains will be dwarfed by much bigger cuts to work allowances imposed by George Osborne in April this year."

Publication Date: 29.11.2016