Claimants set to lose £9 a week
- Category: Latest news
- Created: Tuesday, 25 October 2016 21:08
The Institute for fiscal studies (IFS) has warned that the poorest claimants are set to lose £9 a week from their income because of frozen benefits, a falling pound and rising inflation.
According to the IFS, 11.5 million families were expected to lose an average of £260 a year, saving the government £3 billion in 2019-20.
However, because of predicted inflation, the same families are now expected to lose £360 a year..
But if those families who only get child benefit are removed from the calculation, then the average loss for families dependent on benefits rises to £470 a year.
Given that inflation could rise even higher than predicted, the future for claimants is looking increasingly bleak unless the government has a change of heart about benefit uprating freezes.
You can read the full IFS report here.