Our new columnist ANDREW FISHER, pictured left, looks at what this week’s Budget will mean for Croydon’s residents, businesses and for the services provided by the local authority
Nearly 50,000 households in Croydon receive Universal Credit. The £20 per week cut in UC made by the government earlier this month has therefore taken almost £1million per week out of Croydon’s local economy, and left many of the poorest households more than £1,000 worse off per year.
For those on Universal Credit, this week’s Budget brought some amelioration for people in low-paid work through the cut in the taper rate – the deduction you get in your Universal Credit payment for each additional £1 you earn in work. The taper rate is being cut from 63 per cent to 55 per cent, meaning that after tax and National Insurance deductions, you’ll keep 45p of every £1, rather than 37p.
But most Universal Credit claimants are out of work, and will see no benefit at all. Continue reading























