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  • Department for Work and Pensions - Autumn Budget Summary

    Created: 18/11/2024
    News/Events Category: Employability


    Following the release of the Autumn Budget 2024, we have compiled a summary of Department for Work and Pensions measures: 

    • DWP’s Spending Review settlement for 24/25 and 25/26 has been confirmed ensuring that the Department can continue to contribute to the government’s missions, especially on kickstarting economic growth and breaking down barriers to opportunity.
    • Get Britain Working White Paper – a funding package of £240 million will open up opportunities to millions of people left behind and denied the opportunity to get into work and get on at work. The White Paper will develop:
      • A new jobs and careers service to help get more people into work, and get on in their work, by linking jobseekers with employers, with an increased focus on skills and careers
      • Joined-up work, health and skills plans to tackle economic inactivity and boost employment, led by Mayors and local areas
      • A new Youth Guarantee so that every young person is given the opportunity to earn or learn
    • Carer’s Allowance – Those with caring responsibilities will able to earn more without losing government support, with the Carer’s Allowance earnings threshold boosted by £45 a week to £196, benefitting more than 60,000 carers by 2029/30. This is the biggest ever cash increase in the earnings threshold for Carer’s Allowance. This is alongside an independent review into Carer’s Allowance Overpayments led by Liz Sayce OBE.
    • Household Support Fund – £1 billion, including Barnett impact, will be invested to extend the Household Support Fund in England by a full year, on top of the six months already announced, and to maintain Discretionary Housing Payments in England and Wales. This will help struggling families and pensioners facing the greatest financial hardship.   
    • A new Fair Repayment Rate – will reduce Universal Credit deductions from 25% to 15%. This will mean 1.2 million of the poorest households will benefit by an average of £420 a year.
    • Discretionary Housing Payments – maintained for 25/26
    • State Pension – The Secretary of State has also concluded her annual review of the State Pension and benefit rates, which will see:
      A 4.1% increase to the basic and new State Pensions due to the Triple Lock commitment – meaning those on the full rate of the new State Pension will now see an increase of over £470 per year
      A 1.7% increase to Universal Credit and other working-age benefits – worth an average £12.50 per month for a family on Universal Credit
    • Pension Credit to deliver the Chancellor’s commitment to maximise Pension Credit (PC) take up, DWP are improving use of established data streams to target new pensioner Housing Benefit customers to ensure they are prompted to claim and receive any pension credit to which they are entitled [GB wide]. 
    • Working Age Benefits – uprating of working age benefits will result in 5.7 million households on Universal Credit gaining £150 on average in 2025/26.
    • Improving fraud, error and debt detection and prevention – new package of measures will improve how the department detects and prevents fraud and error, so support is targeted where it is needed most and taxpayers know every pound is spent wisely. These changes are expected to save £7.6 billion by 2029/30.




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