Some families will be £7,000 worse off by 2022
Parents are angry after it was revealed that some families will be up to £7,000 worse off by 2022. The Institute for Fiscal Studies (IFS) has calculated that the average family with two children could lose £890 a year under Universal Credit (UC). This is because the new system will not cover childcare costs and housing benefit.
Universal Credit is being rolled out across the UK to replace six existing benefits, including Child Tax Credits and Housing Benefit. The government claims it will make claiming benefits simpler and more streamlined.
The IFS says that when UC is fully introduced in 2022, many families will lose out on cash support.
