Universal Credit rates to rise in 2023 – what rates can you expect in April? | Personal Finance | Finance

Spread the love

Around 10 million families in receipt of Universal Credit are expected to benefit from an increase in their payments in April to help with rising living costs. The rate will rise by 10.1 percent in line with September 2022’s inflation rate, and form part of the Government’s plan to further support those that are greater “exposed” to the hard financial conditions.

Announcing the plans during his Autumn Statement in November, Chancellor Jeremy Hunt told the House of Commons: “I want to go further to support people most exposed to high inflation. There have also been some representations to keep the uplift to working age and disability benefits below the level of inflation given the financial constraints we face.

“But that would not be consistent with our commitment to protect the most vulnerable so today I also commit to uprate such benefits by inflation with an increase of 10.1 percent. That is an expensive commitment costing £11 billion.”

He continued: “But it means 10 million working-age families will see a much-needed increase next year. On average, a family on Universal Credit will benefit next year by around £600. And to increase the number of households who can benefit from this decision I will also exceptionally increase the benefit cap with inflation next year.”

READ MORE: Mum’s low-cost swap gets washing dry for just 6p an hour

However, it shouldn’t impact other benefits a person may be receiving such as Personal Independence Payment (PIP) or Carer’s Allowance.

People claiming Universal Credit could also be eligible for a number of additional ‘freebies’, which could make a significant difference to the monthly budget and help further with living costs.

From free or discounted broadband and reduced council tax to half-price travel, Britons are urged to check what extra help they may be entitled to. The full list of increases, including extra amounts, is available here.

Leave a Comment