Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of the Autumn Budget 2024 on levels of poverty.

The Government is developing an ambitious and comprehensive strategy to reduce child poverty.

Autumn Budget 2024 announced measures to support households who face the greatest hardships. This support includes a new Fair Repayment Rate which caps deductions made through Universal Credit at 15% of the standard allowance. Before the budget, it was 25% meaning this change will benefit 1.2m families who will be better off by £420 per annum on average.

The government also committed £1 billion in 2025-26, including Barnett consequences, to extend the Household Support Fund (HSF) in England, and Discretionary Housing Payments (DHPs) in England and Wales. The HSF will help households facing the greatest hardship and financial crisis, including supporting them with the cost of essentials such as food, energy and water.

As shown in the analysis published alongside the Autumn Budget 2024, the impacts of government decisions are progressive and benefit households in the lowest income deciles the most in 2025-26. Overall, on average, all but the richest 10% of households will benefit from policy decisions in 2025-26.