interactive investor comments on latest Universal Credit statistics
17th August 2021 11:12
by Myron Jobson from interactive investor
The financial situation resulting from the pandemic has far from stabilised, says ii's Myron Jobson.
The Department for Work & Pensions has today revealed the latest figures on Universal Credit over the period covering 29 April 2013 to 8 July 2021.
Key points
- 42,000 claims made to Universal Credit per week in the four weeks to 8 July 2021
- 130,000 starts on Universal Credit in the four weeks to 8 July 2021
- 5.9 million people on Universal Credit at 8 July 2021, down 34,000 from April 2021
- 5.0 million households on Universal Credit in May 2021
- 4.2 million households received a payment in May 2021, down 130,000 from February 2021
- 89% of new claims and 97% of all claims received their payment in full and on time for the assessment period covering 8 April 2021, compared with 89% and 97% respectively in January 2021
Myron Jobson, Personal Finance Campaigner, interactive investor, says: “A large number of people have struggled to make ends meet during the pandemic, with many experiencing a significant loss of income and unemployment.
“While the latest figures reveal fewer new claims are being made than before the pandemic following the reopening of society, the financial situation resulting from the pandemic has far from stabilised – and the prospect of a new wave and new variants of coronavirus in the winter months exacerbates matters.
“To make matters worse, the nation’s most vulnerable people face a further kick in the teeth if plans to scrap the £20 uplift to the amount received by Universal Credit claimants go ahead. The bumper payments have been a vital lifeline for many families and cutting it when we haven't properly got back to routine could push many into crisis.
“The end of Covid-19 restrictions doesn’t mark the end of impact the pandemic is having on personal finances. It is important now more than ever to pay extra attention to your financial well-being and consider what protective steps you can take now to avoid money worries later on as we enter a winter of uncertainty.”
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