Boris hails Universal Credit £1k cash hitting bank accounts TODAY

 

BORIS Johnson hailed working Brits getting to keep more of their own money as the Universal Credit cash hits bank accounts from TODAY.

The PM said he was “committed to making work pay” as the harsh taper rate was slashed in a victory for The Sun’s Make Universal Credit Work campaign.

Boris Johnson welcomed the Universal Credit change today as working Brits get to keep £1,000 extra

As part of the Chancellor’s Budget surprise, he confirmed the benefit penalty would be cut to allow working families to keep more of their earnings.

The defacto tax cut will be worth £2.2billion to two million low earners – seeing them an average of £1,000 better off.

The cash will start coming into bank accounts from today, in a Christmas boost for around two million this month.

But it will depend on your payment date as to when it comes through.

The PM said: “It’s right that we support hard-working families, and this change will help some of the country’s lowest income families keep more of their money.

“Together with the increase in the minimum wage and our investments in skills and training, it shows this is a government committed to making work pay.”

Work and Pensions Secretary Therese Coffey added: “Tens of thousands of the lowest earners will see a boost to their bank accounts today following changes to Universal Credit, meaning that people can keep more of what they earn to help with the cost of living.”

And Chancellor Rishi Sunak said: “We want this to be a country that rewards work, where hard-working families get to keep more of their hard-earned cash.”

The Government say that a single mum of two, renting in Darlington and working full time on the minimum wage, will see her take-home pay increase by £1,200 a year.

Vulnerable households who need extra help are encouraged to apply for the £500million Household Support Fund if they need extra cash for essentials as Britain continues to recover from Covid.

The regulations passed last week, meaning Brits will start seeing the cash from today, depending on when your payment date falls.

The taper rate has dropped from 63 per cent down to 55 per cent.

And the work allowance has risen by £500 a year too.