US EditionWorking UK households set to be hundreds worse off over coming year
- UK households face a “triple hit” from rising taxes and bills, plus benefits failing to match living costs.
- Tax increases, rising utility bills, and a freeze on local housing allowance create financial strain.
- Wage growth weakening and housing costs rising further worsen household financial situations.
- Adam Corlett stated that the new tax year brings higher taxes and larger bill increases.
- Working-Age households will be £400 worse off, but a Universal Credit boost could help.
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Households Will Be £400 Worse Off Owing to Higher Bills and Taxes, Think Tank Predicts
Working households will be £400 worse off over the next year owing to higher taxes and utility bill increases, with benefits not keeping up with the cost of living, according to analysis by the Resolution Foundation. The think tank said in its report on Thursday that long-running freezes to personal tax thresholds will push up effective tax rates, meaning some people will be paying more tax. This month, employers’ national insurance contribution…
·New York, United States
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Total News Sources24
Leaning Left2Leaning Right6Center8Last UpdatedBias Distribution50% Center
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- 50% of the sources are Center
50% Center
13%
C 50%
R 38%
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