IMMEDIATE RELEASE

“Budget fails to deal with enormous financial and mental pressures facing millions”

27 October 2021

In today’s budget, the Chancellor Rishi Sunak announced changes to the Universal Credit (UC) taper rate, which is the amount of UC withdrawn for every pound someone earns.

However, the changes will only make up for around a third of the income lost due to the UC £20 uplift being scrapped recently.

Responding to the budget, Helen Undy, Chief Executive of the Money and Mental Health Policy Institute said:

“Today’s budget failed to address the enormous financial and mental pressures that millions of people across the country face.

“While the changes to Universal Credit will make a big difference to people in work receiving this benefit, they do nothing to help many of the most vulnerable people in the system, such as those who are too unwell to work. They will also only make up for around a third of the income lost as result of the Universal Credit uplift being scrapped. 

“With no new measures to help people through the energy crisis, no additional funding for the mental health system, and inflation set to be higher than previously forecast, the winter ahead looks even bleaker for many people than it did before today.”

 

ENDS

 


Contact:

For more details, and for any other media enquiries, please contact Brian Semple, Head of External Affairs at Money and Mental health, on 07595 439 638 or brian.semple@moneyandmentalhealth.org


 

NOTES TO EDITORS

About the Money and Mental Health Policy Institute

The Money and Mental Health Policy Institute is an independent charity set up by Martin Lewis, and committed to breaking the link between financial difficulty and mental health problems. We conduct research, develop practical policy solutions and work in partnership with both those providing services and those using them to find what really works. www.moneyandmentalhealth.org