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Plans to slash Universal Credit will see four million families suffer 'significant financial decline'

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www.mirror.co.uk

Plans to strip families of a £20-a-week rise in Universal Credit to cope through the  coronavirus outbreak would see four million households lose 13% of their benefits, analysts warn today.

The Government has so far resisted pressure to abandon moves to scrap the extra payment from April, which would rob claimants of £1,040-a-year.

The Institute for Fiscal Studies says axing the additional help would spark a "significant decline" in finances for families hit by the move.

The think tank warns: "The increase is due to end in April 2021, which would see about four million families losing an average of 13% of their benefits overnight. “For some, the proportional fall will be much greater.

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