George Osborne delivered his Autumn Budget and Spending Review to the House of Commons today.
The most surprising part of the statement was the decision to abolish planned cuts to Working Tax Credits. This is a welcome u-turn from the government and will safeguard the income of many thousands of families, at least in the short to medium term.
Unfortunately more changes to Housing Benefit rules will place pressures on tenants and landlords over the next few years. Housing Benefit levels in the social rented sector are to be capped at Local Housing Allowance rate, with the Shared Room Rate for under 35’s being extended into the the social rented sector too.
You can read more about the key points in our Autumn Statement Briefing.