Universal Credit has seen more claimants than ever this year as millions of people have been forced out of their jobs due to the ongoing Covid pandemic. In May 2020, there were 4.2million households in the UK on Universal Credit, an increase of 1.7million since February 2020. Of these households, 3.7million, or 88 percent, were receiving payment compared to 94 percent in February 2020. In Universal Credit terms, a household means a single person or couple living together with or without dependent children.
The Universal Credit £1000 payment will be given to millions of claimants who were eligible for the £20 uplift, it is understood.
To go along with the shutdown of a large chunk of the economy, the Chancellor announced multiple measures to support Brits and their finances.
As well as furlough and the SEISS scheme, Mr Sunak increased the basic Universal Credit allowance and the working tax credit element of Universal Credit by about £20-a-week.
This boost began on April 6, 2020, at the turn of the new tax year, and has been the biggest boost to the benefits system since 1999.Insurance Loans Mortgage Attorney Credit Lawyer
READ MORE: Universal Credit: Can you claim both Universal Credit and SSP?
Universal Credit one-off payment: Who will get the £1000 Universal Credit bonus? (Image: Getty)
Universal Credit one-off payment: Rishi Sunak is considering a £1000 boost (Image: Getty)
So it is understood that whoever received the £20 uplift will automatically get the £1000 bonus payment, and it’s likely this will all be confirmed during the Budget on March 3.
The Chancellor has decided to do this as the uplift will soon be scrapped, and instead, he is planning a lump-sum cash injection into the bank accounts of claimants.
The uplift saw a single person aged 25 or over go from earning £317.82 to £409.89 a month, a difference of £23 a week or £1,104.84 in a year.
In this case, the £23 weekly boost made up more than one-fifth of the