JRF - NICs increase ‘adds insult to injury’ for families facing devastating cut to Universal Credit
New JRF analysis estimates that around 2 million families on low incomes who receive Universal Credit or Working Tax Credit will pay on average around an extra £100 per year in National Insurance contributions under the Government’s proposed changes.
Peter Matejic, Deputy Director of Evidence & Impact at JRF said:
“We are concerned that around two million families on low incomes who receive Universal Credit or Working Tax Credit will pay on average around an extra £100 per year in national insurance contributions under the Government’s proposal.
“This extra cost adds insult to injury for these families who are facing a historic £1,040 cut to their annual incomes when Universal Credit and Working Tax Credit are reduced in less than a month on 6 October. If it presses ahead, this Government will be responsible for the single biggest overnight cut to social security ever.
“With inflation rising, the cost of living going up and an energy price rise coming in October, many struggling families are wondering how on earth they will be expected to make ends meet from next month.
“The Chancellor is in denial if he seriously believes this cut will not impose unnecessary hardship on millions of families – the majority of whom are in low-paid work. Any MP who is concerned about families on low incomes must urge the Prime Minister and Chancellor to reverse this damaging cut, which will have an immediate and devastating impact on their constituents’ living standards in just a few weeks’ time.”
Latest News from
Joseph Rowntree Foundation responds to latest ONS inflation figures17/08/2022 16:20:00
Rebecca McDonald, Chief Economist at the Joseph Rowntree Foundation, responded to new inflation figures published by the Office of National Statistics (ONS) today
IEA - 44p for 44%: Cut duty and VAT to save households £650 a year17/08/2022 14:05:00
Andy Mayer, energy analyst at free market think tank the Institute of Economic Affairs, commented on rising fuel costs
IEA - Labour market data show UK could be heading for a relatively “job-rich recession”16/08/2022 15:25:00
Professor Len Shackleton, labour market expert at free market think tank the Institute of Economic Affairs comments on the latest ONS Labour Market statistics released today
IEA - Labour’s price cap will make the energy crisis worse16/08/2022 14:25:00
Andy Mayer, energy analyst at free market think tank the Institute of Economic Affairs commented on Labour’s plan to freeze the energy price cap by expanding the windfall tax imposed on oil and gas companies.
IFS - Lack of progress on closing educational inequalities disadvantaging millions throughout life16/08/2022 13:25:00
New research on inequalities, carried out for the IFS Deaton Review of Inequalities and funded by the Nuffield Foundation, finds that disadvantaged pupils start school behind their better-off peers, and the education system is not succeeding in closing these gaps.
IFS - £12 billion needed if government wants to maintain value of household support package16/08/2022 12:25:00
The government would need to find £12 billion simply to achieve what it was aiming to do with the £24 billion package announced in May. That’s largely because in May energy prices were expected to rise by 95% in 2022/23, and are now expected to rise by 141%.
Work Foundation - More bad news for workers as real wages fall by a record 3%16/08/2022 11:25:00
Ben Harrison, Director of the Work Foundation responds to the Labour market overview August 2022 released by the Office for National Statistics
JRF - Do leadership candidates’ plans match the scale of the coming emergency in the cost of living?09/08/2022 16:15:00
The latest analysis carried out by the independent Joseph Rowntree Foundation (JRF) shows families needing £2550 to meet extra costs from the current crisis.
IFS - Significant regional inequality in the effectiveness of cardiologists treating heart attack patients in England09/08/2022 13:25:00
New IFS research published today shows that there was considerable regional inequality in the effectiveness of doctors treating heart attack patients in different parts of England between 2005 and 2018. This suggests that people living in some parts of the country have access to lower quality NHS healthcare.