October 25, 2021

Millions of families will go from bad to worse this fall after more than 300 ‘triple insurance’ cost cuts.

The “triple wami” of living expenses for low-income families will be 300 worse this fall.

This amount includes the elimination of the £ 20 universal credit lift, the increase in the projected energy bill and the prevention of rising wages due to rising inflation.

The Resolution Foundation's think tank found that low-income families could be up to £ 300 more.

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The Resolution Foundation’s think tank found that low-income families could be up to £ 300 more.Credit: Getty – Partners.

The researchers looked at how these changes could affect two types of low-income households.

The first was a single parent who worked part-time for a minimum wage – and the second was a parent who worked full-time with two children.

Both families were expected to cut Universal Credit by 20 a week, which was set aside to help people with the corona virus epidemic – but will begin withdrawing it next week. ۔

The analysis also found that an increase in energy bills would eliminate families, which could increase by 12% from Friday, and other expenses could change, but would also benefit from an increase in real wages. Is.

Overall, it was found that both families would lose £ 300 over the next three months. Daily Telegraph.,

Earlier this week, the Treasury relieved some of the financial pain by giving کونسل 500 million to councils in a move that could benefit up to مل 100 million for three million families.

Downing Street is being warned that it needs to move further, as speculation of a new winter unfolds with rising fuel prices ahead of a national insurance hike in April.

Carl Handscomb, a senior economist at the Resolution Foundation, who provided the study, said: And the rise in prices is comparable to the decline in revenue through universal credit. “

He added that although “some of these pressures are beyond the control of the government”, other cuts, such as universal credit, could result in ministers becoming “owners” of living expenses.

There are more than 400,000 households on universal credit in the UK.

Chancellor Rishi Sink said: “Everyone should be able to afford the necessities, and we are committed to ensuring that. Our new Homehold Support Fund will provide a lifeline for those in winter. They are at risk of struggling to maintain their bills, adding that the government is already helping people with their living expenses. “

However, some Tory MPs have expressed reservations, including former Conservative Party leader and Universal Credit architect Sir Ian Duncan Smith.

He said the ministers knew there was a problem and urged them to “cut the bullet”.

Sir Ain told the Daily Telegraph: “While I welcome any extra money, I wonder why there is no universal credit recipient.

“It’s a great way to target money – it’s going to be complicated and potentially very inefficient.”

Nigel Mills, a Conservative MP from Amber Valley, said: “I still believe that it is a mistake to stop promoting universal credit.

“Although many families are now on their feet, we have not yet fully recovered from the epidemic and many more families need more help this winter.”

Chancellor Rishi Sink launched the Domestic Relief Fund earlier this week.

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Chancellor Rishi Sink launched the Domestic Relief Fund earlier this week.Credit: LNP
Some families may struggle to make ends meet.

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Some families may struggle to make ends meet.Credit: Image Source – Getty

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