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LATEST NEWS AND VIEWS
Staying informed and up-to-date with the latest changes in Benefits, Housing, Careers and Lasting Power of Attorney and many more.
NEW BENEFIT RATES FOR 2024, DOES THIS AFFECT YOU?
The Department for Work and Pensions (DWP) has recently announced the upcoming benefit increases that will take effect in April 2024.
These increases will apply to a wide range of payments, including Universal Credit, Employment and Support Allowance, Personal Independence Payment, and Disability Living Allowance.
The decision to increase benefits has been met with widespread approval, particularly in light of previous reports suggesting that the government might use a lower inflation figure. Analysts warned that such a move would have resulted in a permanent reduction in the value of welfare support.
Chancellor Jeremy Hunt emphasised the importance of supporting the most vulnerable families, recognising that the cost of living pressures disproportionately affect them. As a result, the government has chosen to increase Universal Credit and other benefits by 6.7 per cent from next April, which will result in an average increase of £470 for 5.5 million households next year. This increase will provide crucial support to those with the lowest incomes.
This commitment to increasing benefits demonstrates the government's recognition of the rising cost of living and the impact it has on those who rely on these payments. By linking the State Pension to pay growth, the government is ensuring that pensioners are not left behind and can maintain a decent standard of living.
The triple lock policy is particularly significant as it guarantees that the State Pension will increase by at least 2.5 per cent each year. This provides a safety net for pensioners, especially during times of economic uncertainty or low inflation. It ensures that their income keeps pace with the rising cost of goods and services, allowing them to meet their basic needs and maintain their quality of life.
The inclusion of other benefits, such as Attendance Allowance, Carer's Allowance, Jobseeker's Allowance, and Statutory Sick Pay, in the rate increases further demonstrates the government's commitment to supporting vulnerable individuals and families. These benefits play a crucial role in providing financial assistance to those who are unable to work, have disabilities, or require additional care. By increasing these rates, the government is acknowledging the importance of these benefits in helping individuals and families meet their essential expenses.
The approval process in Parliament ensures that these changes are made fairly and transparently. It allows for scrutiny and debate, ensuring that the interests of those who rely on these benefits are taken into account. This process also provides an opportunity for feedback and input from various stakeholders, including advocacy groups and experts, to ensure that the changes are effective and meet the needs of those they are intended to support.
Overall, this announcement reflects the government's commitment to addressing the financial challenges faced by vulnerable individuals and families.
By increasing benefits and aligning them with inflation, the government is taking proactive steps to ensure that those in need receive the necessary support to maintain a decent standard of living. This commitment to social welfare demonstrates the government's understanding of the difficulties faced by vulnerable individuals and families and their dedication to providing them with the necessary assistance. (Birmingham Live, 2023).
> Find out more about the new 2024 benefit proposed rates here.
ARE WE TO EXPECT AN INCREASE IN NEW SOCIABLE HOUSING?
Exciting findings anticipate a surge in the number of new social housing projects commencing next year, rebounding from a decline of 13% in 2023.
According to analysts at Glenigan, builders are projected to begin work on 7,531 social homes in 2024, which is a 7% increase compared to the 2023 figure of 7,067.
The sector is expected to receive improved funding for affordable housing projects, which will further stimulate growth, with a forecasted 5% rise in 2025.
Development activity in 2023 was constrained due to high construction costs over the past two years. This led housing associations to reassess the feasibility of new projects.
Unfortunately, UK construction starts are predicted to sharply decline by the end of this year, with a forecasted 20% drop.
The decline can be attributed, in part, to the aftermath of last year's Mini Budget, which negatively impacted investor and consumer confidence. The private housing market was further affected by significant interest rate increases in recent months.
The ongoing economic disruption has had a significant impact on the construction industry, leading to a decrease in planned investments by both clients and developers. As a result, there has been a 10% decrease in detailed planning consents during the first nine months of 2023. This decline in planning consent indicates a lack of confidence and willingness to move forward with construction projects.
Furthermore, the decline in main contract awards has worsened, with an 11% decrease during the third quarter compared to the same period last year. This decrease in contract awards suggests that fewer construction projects are being initiated, further contributing to the slowdown in the industry.
Allan Wilen, the economics director at Glenigan, predicts a gradual improvement in the construction industry over the next two years. This suggests that the industry may experience a recovery, albeit a slow one, as economic conditions stabilize and confidence returns.
Despite an increase in funding for affordable housing, it is expected that higher construction costs will limit the number of social housing starts throughout 2023. The rising costs of materials, labour, and other factors make it more challenging for housing associations to initiate new social housing projects.
Additionally, the slowdown in the private housing market will also affect the opportunities for housing associations to collaborate with other developers on larger, mixed-tenure developments. With fewer private housing projects being undertaken, the potential for partnerships and joint ventures in the construction industry is reduced.
However, there is projected growth for next year as housing associations continue with their development plans. The increase in funding for affordable housing and a brighter economic outlook should make mixed-tenure sites more feasible. This suggests that there may be more opportunities for collaboration and development in the construction industry in the coming years.
This latest analysis by Glenigan supports their previous expectation in June that social housing starts would remain stagnant for the rest of the year. The ongoing economic disruption and reduced investments have indeed hindered the progress of social housing projects, aligning with Glenigans earlier predictions. (Inside Housing, 2023).
SLOWDOWN IN WAGE GROWTH REFLECTS A STAGNANT UK JOB MARKET
The latest official figures show that wage growth in the UK, jobs market has slowed down, but is still higher than the rate of price increases. Pay growth, excluding bonuses, declined from 7.3% to 6.6% in the three months leading up to November.
Additionally, the number of job vacancies has dropped for the 18th consecutive time, with retailers reporting the sharpest decline. Major recruitment companies like Page Group, Hays, and Robert Walters concern about weak employer confidence, with Page Group's profits down by 20% in the UK. The Office for National Statistics (ONS) reported a decrease in vacancies in five industry sectors, but overall job vacancies remain higher than pre-Covid levels.
The ONS chief economist mentioned indications of a softening labour market and a decrease in employers reporting recruitment difficulties.
Economists interpret the slowing pay growth as a sign of weakness in the labour market, and the jobs market is at a stand-off with the wider economy as employers and candidates wait to see how the economy develops.
She mentioned that job openings were anticipated to decrease even further, potentially resulting in a decline in wage growth to around 2% by the end of the year. "This will probably strengthen the argument for interest rate cuts later in the year," she stated.
The Bank of England has raised interest rates multiple times to combat inflation, but they have remained at 5.25% - the highest in 15 years - in recent months. Inflation has dropped significantly, and financial markets and some economists have suggested that the Bank may soon lower interest rates.
However, the Bank will closely examine that wage growth surpasses price increases and consider whether a rate cut could fuel inflation, which currently stands at 3.9% - nearly double the Bank's 2% target. According to the ONS, annual public sector wage growth (6.6%) in the three months leading up to November last year surpassed private sector wage increases (6.5%) for the first time since March 2021.
Overall wage growth reached its peak at 7.9% in the three months leading up to August last year, the highest it has been in several decades, according to Mr Fitzner from the ONS. Chancellor Jeremy Hunt expressed satisfaction with the growth of real wages for the fifth consecutive month, as inflation continues to decline.
Liz Kendall, Labour's shadow work and pensions secretary, highlighted that the UK is the only advanced economy with an employment rate still below pre-pandemic levels. "There are 2.6 million people unable to work due to long-term illness - an all-time high that burdens both them and the taxpayer," she stated, emphasizing that Labour would address the underlying causes of economic inactivity.
The latest data shows that the unemployment rate has remained relatively stable at 4.2%.
However, Mr Fitzner pointed out, "It is worth noting that although we haven't seen much change in the unemployment rate in recent months, it is higher than it was at this time last year, indicating some softening in the labour market as evidenced by the unemployment rate and job vacancies." (BBC News, 2024)
ATTENTION! BENEFIT CLAIMANTS COULD RECEIVE A £2,000 PAYOUT FROM A DWP BLUNDER
Attention! Some individuals who are claiming benefits may be entitled to a substantial payout of up to £2,000 due to an error made by the Department for Work and Pensions (DWP).
The DWP has acknowledged that individuals who are widowed and have inherited pensions may have been affected when attempting to claim New Style Jobseeker's Allowance (JSA) during the pandemic. According to the DWP's guidelines, income from inherited pensions was treated as the same as income from other pensions. As a result, the amount of New Style JSA that individuals could claim was impacted. The DWP clarified that "Income from other pensions can influence the amount of New Style JSA you receive, but income from pensions inherited from deceased individuals does not affect New Style JSA claims."
The DWP is currently conducting a review of claims made between March 19, 2019, and November 19, 2022, and is urging anyone who may have been affected to come forward.
Additionally, the DWP is reaching out to potentially impacted individuals through text messages or letters. The exact number of people affected has not yet been confirmed by the DWP. If you are unemployed or work less than 16 hours per week, you may be eligible to claim New Style JSA.
This payment is made every two weeks and can be claimed on its own or alongside Universal Credit. New Style JSA is considered a "contributory" benefit, meaning you can only claim it if you have paid enough National Insurance contributions. Typically, this requires contributions made during the two full tax years before your claim. It's important to note that you can only receive New Style JSA for a maximum of six months, and if you also qualify for Universal Credit, the amount of JobSeekers you receive will be taken into account. If you believe you may be affected by the DWP's mistake, it is crucial to take action and reach out to them. Don't miss out on the opportunity to claim what you may be entitled to, as our advisors can help you with our benefit calculations and checks.
If you believe that you may be entitled to some money, there are certain conditions under which you could be owed cash, as stated by the DWP. These conditions include making a claim for New Style Jobseekers Allowance between 19 March 2020 and 19 November 2022, having income from a pension, or having income from a pension inherited from a deceased individual.
To address any concerns or queries related to this matter, you can write to the DWP. The best part is that you don't even need a stamp! Simply send your letter to the Benefits Centre, Freepost DWP BC 38. In your letter, make sure to include your National Insurance number, copies of your pension statements indicating that the pension is inherited the amounts paid during the period of your New Style JSA claim, and the reference "PAN PEN".
Additionally, if your bank, building society, or credit union account details have changed since you claimed New Style JSA, provide the updated information. Once the DWP reviews your claim, they will inform you of their decision.
If you are eligible for a payment, it will be directly deposited into the bank account where your New Style JSA was previously paid. In case your account has changed, the payment will be made to the account specified on your claim form (Mirror, 2024).
DWP REVEALS THE KEY FACTORS FOR BANK ACCOUNT SCRUTINY
The Department for Work and Pensions (DWP) has outlined its approach to tackling fraud, error, and debt within the benefits system. As part of their effort, the DWP will implement a new strategy called "Third Party Data Gathering," which will grant investigators access to claimants' bank account information. This initiative aims to verify whether individuals are providing accurate information about their financial situation, including any savings that may affect their eligibility for benefits.
The DWP's primary focus will be on ensuring that claimants do not exceed the £16,000 threshold for money, savings, and investments, as stipulated by the current Universal Credit rules. However, in addition to this, the department will also monitor whether claimants are adhering to the regulations regarding the duration of their stay overseas.
To further strengthen their efforts, a proposed amendment to the bill will require banks to monitor customers who receive benefits and promptly report any instances where an account surpasses the capital limit or is used abroad for more than four weeks. This collaborative approach between the DWP and banks aims to enhance the detection of potential fraudulent activities.
The DWP has already identified the top 15 banks in the UK, which collectively cover 97% of benefit claimants' bank accounts. These banks include the Bank of Scotland, Barclays, Halifax, HSBC, NatWest, Santander, and TSB. By monitoring accounts from these institutions, the DWP aims to ensure a comprehensive assessment of claimants' financial circumstances. It is important to note that the DWP will conduct investigations into each identified claim in a fair and thorough manner. Penalties will not be automatically imposed, and decisions will not be solely based on data alone. The department acknowledges the potential vulnerability of claimants and emphasizes the responsible use of automation in the decision-making process.
Overall, the DWP's efforts to combat fraud, error, and debt in the benefits system demonstrate their commitment to ensuring that resources are allocated to those who genuinely need them. By implementing measures such as Third Party Data Gathering and collaborating with banks, the department aims to maintain the integrity of the benefits system and protect the interests of both claimants and taxpayers.
The evaluation report states that the equality impact assessment will further explore the inclusion of vulnerable individuals in these measures. However, decisions will not be solely based on data, and individual circumstances and vulnerabilities will be considered by DWP staff before determining the next steps.
Advocacy groups argue that means-tested benefit claimants would be treated as "criminal by default" by the DWP, sparking controversy. Silkie Carlo, director of Big Brother Watch, expresses concerns about the proposals, stating that they disregard the democratic principle that state surveillance should be based on suspicion. She believes that the extensive financial intrusion and monitoring could lead to serious errors and set a dangerous precedent.
A DWP spokesperson clarifies that the measures target areas with high levels of fraud and error, such as Universal Credit. They emphasize that the changes do not grant the DWP direct access to bank accounts, but rather require third parties to share data indicating potential fraud, which will then be examined further. This process aims to identify individuals who have made genuine mistakes with their claims and prevent them from facing unnecessary debts.
The plans were introduced in the 2022 policy paper titled "Fighting Fraud in the Welfare System". Click here to read more (Mirror, 2024)
ATTENTION NON-UC HOUSEHOLD! CLAIM £450 LIVING COST HANDOUT BY FEBRUARY DEADLINE
Time is running out to take advantage of the Household Support Fund and receive a much-needed £450.
This fund was established by the government to assist individuals who are grappling with the escalating cost of living and the financial strain of paying their bills.
Unlike other government assistance programmes, such as Universal Credit, the Household Support Fund is administered by local councils rather than the central government.
This gives councils the flexibility to allocate funds as they see fit and determine who is eligible for support. North Yorkshire Council has decided to extend the opportunity for another round of payments from the Household Support Fund, but the deadline is quickly approaching.
It's important to note that you don't have to be on Universal Credit to qualify for this assistance. Instead, the council is offering the payment to those who receive housing benefits.
To take advantage of this opportunity, households must act swiftly and claim their supermarket e-vouchers before the 20th of February, 2024.
By doing so, they may be eligible for an additional £450. It's crucial to heed the council's advice and select your e-vouchers by the specified date, as claims cannot be processed after this deadline.
If you have previously received a payment from the Household Support Fund but haven't received one this time, it may be due to changes in the eligibility criteria.
Don't miss out on this chance to alleviate some financial burden and secure the support you need.
The council proceeded to outline the criteria for those who could potentially receive the funds in a detailed statement.
They specified that individuals who were receiving housing benefits between the 18th of August 2023 and the 17th of September 2023, but did not qualify for the cost of living payment distributed in October and November 2023 for individuals on low-income benefits or tax credits, would be eligible for a single e-voucher worth £450.
The cost of living payment, which was separate from the e-voucher, was specifically allocated to individuals receiving Universal Credit, Income Support, Pension Credit, income-based Jobseekers Allowance, income-related Employment and Support Allowance, Child Tax Credit, and Working Tax Credit.
These individuals were not eligible for the e-voucher, as they were already receiving additional financial support. For those who met the eligibility requirements, the council stated that they would receive a single e-voucher from the Household Support Fund.
This e-voucher could be used to purchase essential items, including food, in the upcoming months. The council emphasised that the e-voucher could only be used at nine different supermarkets, namely Aldi, ASDA, Farmfoods, Iceland, Marks and Spencer, Morrisons, Sainsbury’s, Tesco, and Waitrose.
However, it was important to note that only ASDA, Marks and Spencer, Sainsbury’s, and Waitrose offered both in-store benefit e-vouchers and online shopping options.
This information was crucial for eligible individuals to consider when planning their shopping trips and deciding which supermarket to use their e-voucher at. (Yorkshire Live, 2024)
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