As we enter a new tax year next week, there are a number of changes being made - including an uplift to certain DWP payments and benefits. As mentioned in Chancellor Jeremy Hunt's autumn statement, benefit and pension rates for 2023/24 will go up 10.1 per cent in line with inflation.
He also announced the National Living Wage for over-23s will be increased from £9.50 an hour to £10.42. The rise in living wage is set to go ahead from April. Housing benefit is due to go up too, from April 1 if you pay monthly and from April 3 if you pay weekly.
Statutory maternity, paternity, adoption, shared parental and parental bereavement pay will increase as well, from the current rate of £156.66 per week to £172.48 per week in 2023/24. Statutory sick pay will rise to £109.40 per week, up from £99.35 per week.
