Posted on 22/11/2023 14:22
UK Chancellor of the Exchequer Jeremy Hunt announced a series of grants to the public this Wednesday, the 22nd, when he presented his Autumn Budget statement. Among the measures, the document highlights that the government will increase the minimum wage and cost-of-living allowances for the low-income and unemployed.
Hunt said Universal Credit, which is paid as a monthly grant to people in Scotland, will rise by 6.7% from April 2024. In addition, the minimum wage has increased by 9.8% per hour, to £11.44 per hour, and the rate now applies to over-21s. Earlier, it was only valid for people above 23 years of age.
In addition, measures worth £104 billion have been announced to increase housing benefit, to be spent by 2025, to an average of £3,700 per household. “We will support low-income families while focusing on fighting inflation,” Hunt said.
The finance minister also announced a freeze on other taxes on companies and goods. Among products, the government has promised to freeze taxes on alcoholic beverages till August 2024.
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