With fuel costs rising and the cost of living crisis squeezing budgets further, being aware of what cash is coming into bank accounts is essential. Those claiming Universal Credit have a rise on the cards from April 2023. Here's details of the increase that claimants can expect in the forthcoming months.
Universal Credit is a government payment admistered by the Department for Work and Pensions (DWP) that is designed to help with living costs. The monthly amount is payable for certain Brits who are on a low income, regardless of whether you are in or out of work - or if you cannot work.
Claimants are set to get payment increases to their monthly payments from April 2023, following an announcement by Jeremy Hunt, Chancellor of the Exchequer, in his Autumn statement. At the time, he said that all DWP and HMRC benefits would get a 10.1% rise in the next financial year, based on the September 2022 rate of inflation.
