Autumn Statement 2023: What it means for people living with cancer
The Chancellor of the Exchequer presented his Autumn Statement to Parliament on Wednesday 22nd November. In this blog, we share some of the key announcements, including changes to Universal Credit and disability benefits, the state pension and National insurance rates.
Autumn Statement summary
The Autumn Statement is when the Chancellor of the Exchequer provides an update to parliament about the state of the UK economy, and the government’s plan for spending for the year.
The UK Chancellor, Jeremy Hunt, presented his Autumn Statement for 2023 on Wednesday 22nd November.
Here is more information about some of the key points for people living with cancer from the Autumn Statement 2023. We will keep this blog updated if and when we have more information.
Changes to Universal Credit and disability benefits
This applies to UK Government administered benefits and social security, and not for benefits controlled by the Department for Communities in Northern Ireland and devolved benefits controlled by the Scottish Government.
We have more information about Universal Credit and other benefits and financial support.
Cuts to National Insurance
The National Insurance rate for employees is currently charged at 12% on earnings between £12,571 and £50,271, and 2% on anything above that. From the 6th of January 2023, this will reduce to 10%.Increase in state pension
The current state pension is £203.85 per week. This will increase by 8.5% to £221 per week from April 2023.If you want to understand more about pensions and your options, we have information about pensions and cancer.
Changes to National Living Wage
There is a separate National Minimum Wage for people who are between 18 and 20 years old. This is currently £7.49 and will increase to £8.60.
Increase to Local Housing Allowance
The Local Housing Allowance (LHA) rates affect how much help people who are renting from private landlords get. This has been frozen since 2020, but it was announced in the Autumn Statement that this would increase to cover the lowest 30% of rents from April 2024.
We have more information about help with rent payments.
Work Capability Assessment (WCA) gateway reform
The Work Capability Assessment is how the Government assess people’s capability to work and the support they receive for Employment Support Allowance (ESA) and the health-related element of Universal Credit. The UK Government have set out changes to amend some of the functional activities and descriptors in the WCA, with implementation occurring from 2025. You can read more about the proposed changes here.
Macmillan submitted evidence to a government consultation on the proposed changes earlier in the year, supported by evidence from our expert welfare rights advisers and work support advisers. Now the government has published more detailed plans we will look at the potential impact of the changes on people with cancer and will continue to raise any concerns we might have.
You can read Macmillan's response to the consultation here:
Support for people with cancer who are worried about money
Help with money
We know cancer can be tough on your finances. If you’re worried about money, there is support available. We have information about the cost of living crisis, as well as help with money and work.
You can also speak to a Macmillan Financial Guide. They are available Monday to Friday, 8am to 6pm. To speak to someone:
- - Call the Macmillan Support Line for free on 0808 808 00 00
- - Chat to a specialist online
Help with how you’re feeling
Worrying about money can affect your mental health. We’re here for you if you need emotional support.
Read more about the emotional support that’s available if you’re worried about money.
Visit the GOV.UK website for full details of the Autumn Statement 2023.
Tag: WAM
-
Blogs 07 Nov 2023If you are living with cancer or having cancer treatment you may find you are spending more money on heating bills as you are spending more time at home or feeling colder because of treatment. Here...
-
Blogs 22 Sep 2023We know cancer can be tough on your finances, and it can be even more difficult over the winter months. Here are our top 10 tips to help save money this winter.
-
Blogs 07 Feb 2024Get expert information and advice from Macmillan about work rights, financial support options, sick pay and self-employment for people with cancer.
How we can help