Benefits Spending 'to Soar by £5.5bn Next Year' as Inflation Rockets
Institute for Fiscal Studies analysis says higher inflation could add £5.5 billion to welfare spending, leaving the Treasury £2.2 billion short of budget plans.
5 Articles
5 Articles
'Higher inflation means higher benefit bills': £5.5bn welfare rise threatens Budget plans
Britain’s welfare bill could rise by an additional £5.5bn in 2027 as higher-than-expected inflation threatens to deepen pressure on the public finances and complicate Chancellor John Healey’s first Budget. Analysis… The post ‘Higher inflation means higher benefit bills’: £5.5bn welfare rise threatens Budget plans appeared first on London Business News
Benefits bill balloons by extra £5.5billion after inflation soars on Labour's watch
Britain's benefits bill is forecast to balloon by a £5.5billion by next year after inflation soared on Labour's watch, it has emerged.September's level of inflation determines just how much the benefits could be raised the following year. Official figures published earlier today showed inflation creeping up faster than initially projected. Last month, inflation surged to its highest level in almost a year at 3.5 per cent, up from 3.1 per cent in…
The Burnham government is set to release its first budget next week, with the opposition urging reforms to the welfare system, arguing that government spending on welfare is too high. A report from the Centre for Social Justice (CSJ) shows that over the past 20 years, the UK has spent £1.1 trillion more on social welfare than on infrastructure.
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