This morning, the Chancellor of the Exchequer, Jeremy Hunt MP gave the Autumn Statement for 2023 in the House of Commons.
- We have written about the 9.8% increase to the National Minimum Wage rates, from £10.42 to £11.44 here.
- The Government have honoured their commitment to the Triple Lock, increasing the State Pension and Pension Credit by 8.5% to £221.20 per week from April 2024.
- Inflation-based uplifts to the welfare system were top of the agenda. Consisting of a 6.7% increase to universal credit, which will average at £475 pounds per year for those on the very lowest income.
- National insurance has also been cut from 12% to 10%, taking effect from 6 January.
- The government has also allocated £20 million to launch the first Clinical Trials Delivery Accelerator (CTDA) focused on dementia.
The Autumn Statement has been published in full here.
And a transcript of the Chancellor’s speech is available here.
Homecare Association responds to the Autumn Statement and National Living Wage increase.
