Income shock

Submitted by AWL on 22 July, 2020 - 7:08
Universal Credit

The Resolution Foundation cites business surveys to estimate that over one million workers out of the 9.5 million so far furloughed may lose their jobs completely when government furlough money stops at the end of October. It predicts a further “income shock” if the Tories stick to their plan to withdraw from April 2021 the £20 increase in Universal Credit which came with lockdown. That would mean an income cut of over £1,000 for over six million households. All that without factoring in the risk of a full-on second surge of the virus.

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