📈Our analysis shows that households able to work the most hours gain the most from the National Living Wage rising and changes to the #UniversalCredit taper and work allowance.
❌However, rising living costs wipe out most of these gains
❌However, rising living costs wipe out most of these gains
A couple with two young children, with one parent working full-time and one working part-time will be better off by £7 per week
➕💷7⃣
➕💷7⃣
A single parent, with one young child, working full-time will be better off by £1 per week
➕💷1⃣
➕💷1⃣
The picture is much more concerning for those who are constrained in how much they can work.
✂️These families are much worse off than they would have been if the Government had not cut #UniversalCredit by £20, and the soaring cost of living pulls them even further down
✂️These families are much worse off than they would have been if the Government had not cut #UniversalCredit by £20, and the soaring cost of living pulls them even further down
A couple with two young children with one parent working full-time will be £4 worse off per week
➖💷4⃣
➖💷4⃣
A single parent, with one young child, working part-time will be £8 worse off per week
➖💷8⃣
➖💷8⃣
A single adult with no children who isn’t working will be £13 worse off per week
➖💷1⃣3⃣
➖💷1⃣3⃣
❌The Budget offered no respite to those who are out of work.
🥅The safety net remains threadbare for people that are currently unable to work at all due to a disability, illness or caring for very young children, or who lost their jobs in the pandemic.
🥅The safety net remains threadbare for people that are currently unable to work at all due to a disability, illness or caring for very young children, or who lost their jobs in the pandemic.
Read more from JRF's @KatieSchmuecker on what's needed from this Budget if we are to give people security and support as we make the transition to a new economy 👇
jrf.org.uk/blog/does-budg…
jrf.org.uk/blog/does-budg…
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