How a new Labour government will affect Universal Credit and your family finances

Labour has won the election with a landslide victory and incoming Prime Minister Sir Keir Starmer has promised that 'change begins now'. But what will that statement – and a new Labour government – mean for family finances? What has Labour promised? After 14 years of Conservative rule, Labour leader Sir Keir Starmer will become the UK's Prime Minister today with a win of 412 seats so far.

Labour has promised to 'kickstart economic growth', by getting more people into work, but there's a question over whether it plans to shake up Personal Independence Payments . Labour has remained tight-lipped about how it intends to do this so far and there's no mention of whether it will follow the DWP's plans – set out by the Conservative government – to radically shake up PIP.

The party has said that the work capability assessment – which decides if someone on Universal Credit is fit for work or whether they're given an incapacity benefit – needs an overhaul. 'Labour will work with local areas to create plans to support more disabled people and those with health conditions into work. We will devolve funding so local areas can shape a joined-up work, health, and skills offer for local people. We will tackle the backlog of Access to Work claims and give disabled people the confidence to start working without the fear of an immediate benefit reassessment if it does not work out.

But the party has outlined plans to tackle the cost of living crisis, after calling the 'eye-watering cost of living' a direct result of the Conservative government.

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