House of Commons · Written Ministerial Statement
Households Below Average Income Statistics Release
21 March 2024 · Department for Work and Pensions
Proposed by Mel Stride Con Central Devon
Summarised by AI from the official record, so it can contain mistakes.
At a glance
Key points
- The government published Household Below Average Income statistics for 2022/23.
- A cost of living support package worth 96 billion helped prevent 1.3 million people from falling into absolute poverty.
- Local Housing Allowance rates will increase to assist low-income households.
Issue summary
The statement discusses the publication of Household Below Average Income (HBAI) statistics for 2022/23 and the impact of inflation on poverty rates.
Action requested
The government provided a cost of living support package worth £96 billion to help shield households from high inflation, preventing 1.3 million people from falling into absolute poverty in 2022/23. The statement also outlines further measures such as extending the Household Support Fund and increasing benefits and pensions by up to 8.5%. Additionally, local Housing Allowance rates will rise to help low-income households.
Key facts
- Inflation averaged 10% in 2022/23.
- The government's cost of living support prevented 1.3 million people from falling into absolute poverty after housing costs in 2022/23, including 300,000 children, 600,000 working-age adults, and 400,000 pensioners.
- Median incomes fell slightly between 2021/22 and 2022/23.
- Absolute poverty rates for pensioners after housing costs remained stable.
- Benefits will increase by up to 6.7% from April 2024, while Basic and New State Pensions and the Standard Minimum Guarantee in Pension Credit will be uprated by 8.5%.
- Local Housing Allowance rates will rise to the 30th percentile of local market rents in April 2024, benefiting around 1.6 million low-income households by £800 a year on average.