The Poverty Impact of the 2023 Autumn Statement

On behalf of the Centre for Social Policy Studies, WPI Economics has published a new briefing paper on the poverty impacts of several changes announced by the Chancellor at the Autumn Statement.

The headline impacts are:

• Changes to National Insurance contributions stand to see the number of people in poverty reduced by 175,000;
• Combined with further changes to the National Living Wage, the financial support available for housing costs for people on low incomes and more practical support for people looking to find work, the report estimates that the number of people in poverty could be reduced by as much as 430,000 once all are fully rolled out.
• This includes 250,000 fewer working-age adults in poverty and 185,000 fewer children in poverty.

You can read the briefing in full here, and the accompanying press release here.