Chancellor Jeremy Hunt has confirmed that certain means-tested benefits and pensions will rise in line with inflation rates next year.
Mr Hunt said he will increase working age and disability benefits in line with inflation, with a rise of 10.1 per cent, costing £11 billion. By law, some disability benefits must rise in line with inflation each year anyway.
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Pensions will rise in line with inflation rates, as well as benefits like Universal Credit. Means-tested benefits include:
- Income-based Jobseeker’s Allowance
- Income-related Employment and Support Allowance
- Income Support
- Pension Credit
- Tax Credits (Child Tax Credit and Working Tax Credit)
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- Housing Benefit
- Council Tax Support
- Social Fund (Sure Start Maternity Grant, Funeral Payment, Cold Weather Payment)
- Universal Credit
Means-tested benefits are available to people who can demonstrate that their income and capital are below a certain level. Pensions will also rise in line with the inflation rate, as confirmed by the Chancellor today.
Jeremy also noted that this promise means the UK Government is sticking to its “triple lock” on the state pension.
That refers to a manifesto pledge that the state pension would rise in line with the highest of: the previous September's inflation figure, the average wage increase, or 2.5 per cent.
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