Menu
22/01/2014
Universal Credit Improves Work Incentives
New figures show that 2,960 people started claiming Universal Credit (UC) in the Greater Manchester and Cheshire areas from April 2013 to the end of October 2013.
The figures also reveal that the majority of claimants were under the age of 25, meaning these young people are benefiting from the improved work incentives of Universal Credit.
Nearly seven out of 10 claimants receiving the new benefit are aged between 16 and 24.
The government is committed to delivering the best skills for young people as part of the long-term economic plan.
Universal Credit gives greater incentives for young people to move into work because for the first time it gives under-25s in-work support, ensuring they are better off taking a job than remaining on benefits.
Currently single young people under 25 are not generally eligible for in-work support from Working Tax Credit and can face a severe withdrawal of benefits when they go into work.
A single person under 25, working 35 hours a week at the National Minimum Wage could be around £15-£20 a week better off under Universal Credit.
Welfare Reform Minister Lord Freud said: "Universal Credit is a modern welfare system that ensures being in work pays, so taking a job is a more attractive option than remaining on benefits. Our commitment to build a stronger and more competitive Britain needs young people in jobs where they can progress.
"Alongside our £1 billion Youth Contract, Work Programme and apprenticeships scheme, Universal Credit will help young people get on."
(CD/JP)
The figures also reveal that the majority of claimants were under the age of 25, meaning these young people are benefiting from the improved work incentives of Universal Credit.
Nearly seven out of 10 claimants receiving the new benefit are aged between 16 and 24.
The government is committed to delivering the best skills for young people as part of the long-term economic plan.
Universal Credit gives greater incentives for young people to move into work because for the first time it gives under-25s in-work support, ensuring they are better off taking a job than remaining on benefits.
Currently single young people under 25 are not generally eligible for in-work support from Working Tax Credit and can face a severe withdrawal of benefits when they go into work.
A single person under 25, working 35 hours a week at the National Minimum Wage could be around £15-£20 a week better off under Universal Credit.
Welfare Reform Minister Lord Freud said: "Universal Credit is a modern welfare system that ensures being in work pays, so taking a job is a more attractive option than remaining on benefits. Our commitment to build a stronger and more competitive Britain needs young people in jobs where they can progress.
"Alongside our £1 billion Youth Contract, Work Programme and apprenticeships scheme, Universal Credit will help young people get on."
(CD/JP)
Related UK National News Stories
Click here for the latest headlines.
17 February 2015
Plans Announced To Make Young People Work For Benefits
The Prime Minister has announced a proposal for 18 to 21-year-olds claiming benefits to do daily work experience. The proposed reform, known as Community Work Programme, would see young people not in work, education or training, required to complete daily work experience, alongside continuing to look for work in order to qualify for benefits.
Plans Announced To Make Young People Work For Benefits
The Prime Minister has announced a proposal for 18 to 21-year-olds claiming benefits to do daily work experience. The proposed reform, known as Community Work Programme, would see young people not in work, education or training, required to complete daily work experience, alongside continuing to look for work in order to qualify for benefits.
18 May 2012
Generous Parents Hurting Grown-Up Children's Credit Rating
Free credit report service Noddle has warned that parents are inadvertently placing their adult children at a financial disadvantage by taking out credit and paying essential bills on their behalf.
Generous Parents Hurting Grown-Up Children's Credit Rating
Free credit report service Noddle has warned that parents are inadvertently placing their adult children at a financial disadvantage by taking out credit and paying essential bills on their behalf.
01 February 2011
New Rights To Benefit Consumers
Consumers should take advantage of new rights aimed at protecting them and encouraging lenders to act more responsibly, Consumer Minister Edward Davey said today as the EU Consumer Credit Directive came into force.
New Rights To Benefit Consumers
Consumers should take advantage of new rights aimed at protecting them and encouraging lenders to act more responsibly, Consumer Minister Edward Davey said today as the EU Consumer Credit Directive came into force.
22 April 2004
Lenders warned over 'irresponsible' credit offers
Credit card companies have been warned that there will be no room for irresponsible lenders in the marketplace of the future. According to the Consumer Minister Gerry Sutcliffe, companies must improve data sharing to help promote "responsible lending" and crack down on those who exploit the most vulnerable borrowers.
Lenders warned over 'irresponsible' credit offers
Credit card companies have been warned that there will be no room for irresponsible lenders in the marketplace of the future. According to the Consumer Minister Gerry Sutcliffe, companies must improve data sharing to help promote "responsible lending" and crack down on those who exploit the most vulnerable borrowers.
17 December 2004
Consumer credit shake-up targets rogue lending
Tough new sanctions on rogue lenders could be introduced under a new Bill introduced in the House of Commons by Trade and Industry Secretary Patricia Hewitt. Measures in the Consumer Credit Bill would create a fairer, clearer and more competitive credit market, by bringing in new rules to give consumers better protection and more rights.
Consumer credit shake-up targets rogue lending
Tough new sanctions on rogue lenders could be introduced under a new Bill introduced in the House of Commons by Trade and Industry Secretary Patricia Hewitt. Measures in the Consumer Credit Bill would create a fairer, clearer and more competitive credit market, by bringing in new rules to give consumers better protection and more rights.
-
Northern Ireland WeatherThis Evening and Tonight:Dry and quite chilly overnight under prolonged clear spells and light winds. This will allow a few fog patches to develop in places. Winds light and variable in direction. Minimum temperature 2 °C.
