MoneySavingExpert founder Martin Lewis was quick to respond to Jeremy Hunt's Autumn Budget announcement today as the Chancellor reeled off tens of billions of pounds worth of tax rises and spending cuts.
While the financial guru welcomed the 10.1% benefit and state pension increase with open arms - he feared that it would be 'difficult' for the 'squeezed' middle who won't be as eligible as others for Government support.
Taking to Twitter as Mr Hunt revealed his Autumn Statement, Lewis wrote: "I am very pleased that both benefits and the state pension are being increased by the 10.1% September inflation rate. It only happens from next April, and it will still be hard for many, but if it was less than this it would've been devastating."
Read more: Jeremy Hunt's Autumn Statement at a glance as he announces tax rises
The Mirror reports that the words come after the Chancellor announced that both pensions and Universal Credit would go up in line with inflation. A 10.1% rise - which is likely to cost £11bn - will boost the New State Pension by an estimated £18.70 each week from £185.15 to £203.85.
Accumulatively, this will be worth in the region of £870 per year.
Those in receipt of Universal Credit and over the age of 25 will also see their benefit rise from £335 to £369 a month - while the average family on the benefit will see boosts of about £600.
Speaking shortly after on Radio 4's World at One, Martin said it: "certainly looks like help has been put in place for those on the lowest incomes".
He added, however, that it would be "difficult for those in the 'squeezed middle''' - especially when it comes to energy costs. He continued: "They won't get any help apart from the Energy Price Guarantee."
Later, in a 10 minute video on his Twitter channel, Martin added: "The energy price guarantee lasts until the end of March 2024. But we will see another rise - on typical use, you go up from £2,500 a year to £3,000 a year. It's very early days. They are consulting on moving to a social tariff system. It means the most vulnerable will be put on a cheaper tariff."
He added: "There was little said but Support For Mortgage Interest for those who've lost jobs is set to be claimable after three months - not nine months. I met with Jeremy Hunt, I pushed hard and he'll call banks to a summit so we can talk flexibility and forbearance before spring, so we can help people. I will be there."
The Energy Price Guarantee - a state subsidy applied to all energy bills - will run until the end of March 2024, Hunt announced. Lewis said those on middle incomes wouldn't get the extra cost of living payments worth up to £1,350 to help towards the rise in energy costs.
This includes £900 to households on certain means-tested benefits, including Universal Credit, Tax Credits and Pension Credit.
Lewis said one change he felt was particularly positive was new, improved support for those who are struggling to pay their mortgage because they've lost their job. Previously the Government would cover the interest on your mortgage if you have not been earning for nine months, while now you only have to be out of work for three months to be eligible.
Lewis said it was a change he'd pushed for "for a long time".
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