Chancellor Philip Hammond reveals welfare investment plans

In a statement made today, Chancellor of the exchequers, Philip Hammond will reveal a £1 billion investment into our welfare system.

After the budget cuts introduced by George Osborne, the autumn statement is designed to ease the impact the cuts made.

According to Theresa May the autumn statement will “deliver the government’s commitment to build an economy that works for everyone”. The statement will prove that “the government is on the side of ordinary people struggling to make ends meet”.

One major change includes the promise to ban letting agencies charging agency fees. This change will affect the millions of families who are forced to pay hundreds of pounds to cover the administrative costs of renting.

An investment of £1.4 billion in affordable housing will also be revealed in the autumn statement. An additional 40,000 new homes are expected to provide more flexibility and lower rents.

The national living wage is also set to rise from £7.20 to 7.50 from April 2017.

TNT News

Photo Credit: Conservatives

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