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ANNUAL BENEFIT INCREASE?

emc123

Hi, I know there's Uncertainty re the Level or Type of benefit increase in April but is it Still an Increase as per usual ie The Annual Increase?
As someone I know has mentioned Benefits May Not Be Increased At All This April?
Surely not true? :-/
Anyone 'In The Know'? I'm not asking anyone to Speculate obviously :-)
Just need to know The Annual Increase hasn't been spoken of politically/Government wise as possibly Not Happening At All? X

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emc123

Thanks could you tell me what is SRP and the meaning of Get The Triple Lock?
And I didn't Know PIP Must rise inline with Inflation that's a good'n to know thank you Woodbine(awesome name btw)

leeCal

The Office for National Statistics will report the official rate of inflation on the 19th October, so as woodbine says not long to wait now.

emc123

Thank you I just wanted to ask if they'd be so bold as to actually Freeze Benefits.
Which is all I meant by Not increasing them At All in April as usual x

leeCal

personally I don’t think they will freeze benefits, a significant number of mps want them to rise as per usual. But you never know.

calcotti

woodbine said:

The short answer is that part from those close to govt. no one knows yet,

I doubt those in govt know themselves yet!

calcotti

emc123 said:

Thank you I just wanted to ask if they'd be so bold as to actually Freeze Benefits.

There has been no suggestion of that as an option in any reports I have read.

racyguy

calcotti said:

emc123 said:

Thank you I just wanted to ask if they'd be so bold as to actually Freeze Benefits.

There has been no suggestion of that as an option in any reports I have read.

At the moment there are two schools of thought. Increase all benefits by the rate of inflation (10%+) or increase them in line with the increase in wages (5.5%).

calcotti

racyguy said:

calcotti said:

emc123 said:

Thank you I just wanted to ask if they'd be so bold as to actually Freeze Benefits.

There has been no suggestion of that as an option in any reports I have read.

At the moment there are two schools of thought. Increase all benefits by the rate of inflation (10%+) or increase them in line with the increase in wages (5.5%).

Exactly.

emc123

To @calcotti and all Thanks so much :-) xxx

emc123

@woodbine AbsoBloodyLutely 👏🤞🥰x

leeCal

Things have changed once again and now the benefit rises don’t look so likely in my opinion.

Roll on the next general election is all I can say.

calcotti

https://www.ohchr.org/en/press-releases/2022/10/increase-benefits-and-wages-line-inflation-or-lives-will-be-lost-un-poverty

racyguy

calcotti said:

https://www.ohchr.org/en/press-releases/2022/10/increase-benefits-and-wages-line-inflation-or-lives-will-be-lost-un-poverty

To be truthful I don't know anyone that has any time for this organisation - certainly their past history of downplaying anything involving the UK.

racyguy

leeCal said:

Things have changed once again and now the benefit rises don’t look so likely in my opinion.

Roll on the next general election is all I can say.

To be honest this country cannot afford to compensate everyone for the effects of inflation.
To do so will be the first time this country has done so.
Previously during the many periods of high inflation (up to and over 25%) nobody received anything from the State because of it. You just learn to survive and hope for the best.
I'm waiting for see what would happen if house prices started to fall - would homeowners demand that the government compensate them?

calcotti

racyguy said:

calcotti said:

https://www.ohchr.org/en/press-releases/2022/10/increase-benefits-and-wages-line-inflation-or-lives-will-be-lost-un-poverty

To be truthful I don't know anyone that has any time for this organisation - certainly their past history of downplaying anything involving the UK.

"I don't know anyone that has any time for this organisation" - that may be your opinion and that of your circle of friends but doesn't mean that it is without standing.

calcotti

Truss has said in PMQ that she fully supports the Triple Lock for pensions.

However I have little confidence that she will not say something different in a few days.

No reassurance on whether or not working age benefits will be raised in line with inflation.

racyguy

calcotti said:

racyguy said:

calcotti said:

https://www.ohchr.org/en/press-releases/2022/10/increase-benefits-and-wages-line-inflation-or-lives-will-be-lost-un-poverty

To be truthful I don't know anyone that has any time for this organisation - certainly their past history of downplaying anything involving the UK.

"I don't know anyone that has any time for this organisation" - that may be your opinion and that of your circle of friends but doesn't mean that it is without standing.

Maybe but even this and past governments have not engaged with the organisation.

racyguy

calcotti said:

Truss has said in PMQ that she fully supports the Triple Lock for pensions.

However I have little confidence that she will not say something different in a few days.

No reassurance on whether or not working age benefits will be raised in line with inflation.

It's all down to financial stability. You cannot pay out more than what you have coming in. There are priorities, one of which is trying to reduce our level of borrowing - not adding to it. The interest the country is paying on it is wasted money - much like a credit card debt - it just keeps on rolling up.
I have said it many times but will repeat it - the Welfare Budget is the easiest to cut and raises the most money with little effort. Surely no one should be expecting the triple lock to remain in place this year - it's far too expensive. Think practical - should all workers also get a 10% pay rise without asking for it?
Whatever is put on the table by the Chancellor you should be grateful.
Worst case scenario is 5% to pensioners and a freeze on all other benefits including Pension Credit.

leeCal

She has said she is committed to the triplelock this very day and is in agreement with the chancellor who was sitting next to her!

leeCal

@woodbine said
One final point every single penny you increase benefits by finds it's way back into the economy thats EVERY SINGLE PENNY.

I couldn’t agree more woodbine, well said.

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