What Labour will do with Universal Credit, State Pension and cost of living

Labour has pledged to "kickstart economic growth" after 14 years of Conservative rule and intends to address the issue of rising economic inactivity. What, though, could this mean for our benefits system?

Universal Credit and PIP Analysts have highlighted the urgent need to address the escalating costs of Personal Independence Payment , with Tom Waters, Associate Director at the Institute for Fiscal Studies, commenting: "The number of people receiving financial support from the government for a health-related benefit has increased sharply since the pandemic and is forecast to continue growing.

It's estimated that around one third of Universal Credit recipients fall into this 'limited ability to work and undertake work-related activity' category. The majority of these individuals also receive Personal Independence Payment. In reassurances to those battling with disabilities and physical or mental health issues, Labour has pledged not to halt or diminish their benefits just because they attempt to work.

State Pension Labour has committed to maintaining the triple lock system that determines the yearly increase in the State Pension. This means that pensions rise each April by whichever is highest: inflation as measured by the previous September's Consumer Price Index, earnings growth from May to July, or a minimum of 2.5%.

Birmingham, for instance, is here introducing "hardship grants" worth £200 to low-income families and individuals meeting particular benefit criteria. Labour pledges "to deliver economic stability with tough spending rules, so we can grow our economy and keep taxes, inflation, and mortgages as low as possible."

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