The changes will see most people get more money
The Department for Work and Pensions has confirmed that millions of people will see their Universal Credit payments increase in the coming weeks. This is a huge boost of £470 a year.
Every year, state benefit rates change and in 2024 most of them will go up by 6.7%. This was confirmed by Chancellor Jeremy Hunt last year and this week he delivered his spring Budget.It included a number of giveaways like changes to child benefit and a cut in National Insurance. You can find out all the important points from the Budget and how they affect you here.
Most state benefits will go up by 6.7%, matching the consumer prices index inflation rate in September 2023. State pension rates will rise even more, going up by 8.5% from April. The government has announced a 6.7% increase to benefits, which is 3.6 percentage points higher than the predicted earnings for 2024/25. This means that around 5.5 million households on universal credit will gain an average of £470 in 2024/25.
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