Question to the Department for Work and Pensions:
To ask His Majesty's Government what was the Universal Credit overpayment rate for the financial years (1) 2022–23, and (2) 2023–24; and how these figures compare to the forecasted rate used in the Spring Budget 2023 and Spring Budget 2024.
The Universal Credit (UC) overpayment rate was 12.7% of expenditure in the financial year 2022-23, and 12.4% of expenditure in the financial year 2023-24.
At Spring Budget 2023, the Office for Budget Responsibility forecast that the UC overpayment rate would be 12.1% in 2022/23, an underestimate of 0.6ppts from actual 2022-23 outturn (12.7%).
At Spring Budget 2024, the Office for Budget Responsibility forecast that the UC overpayment rate would be 13.2% in 2023/24, an overestimate of 0.7ppts from actual 2023-24 outturn (12.4%).