Uprating Universal Credit to tackle the cost of living crisis

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Consumer Duty compliance: Data driven strategies to turn FCA insights into action In December 2024 the FCA released the findings from its review of how firms prepared their first annual Consumer Duty board report. The FCA highlighted good practices as well as areas for improvements that firms should consider before submitting their reports ahead of the 31 July deadline.

In this webinar we will be joined by industry experts to explore the key takeaways from the FCA’s review and the guidance it has provided.

Join us as we discuss the FCA’s recent findings and what they mean for firms preparing their next reports. We’ll explore how organisations identify and categorise vulnerable customers, using data to build a more holistic view of their needs and ensuring compliance through effective reporting.

Our speakers will also share insights on how firms are creating targeted support, measuring its impact and demonstrating good outcomes in their board reports.

Speakers:

🔹 Kevin Still, Director, Consumer Duty Services
🔹 Stuart Murgatroyd, CEO, Data on Demand
🔹 Andrew Gething, Founder and Managing Director, MorganAsh
🔹 Stuart Bungay, Policy in Practice

Hosted by Rob Johnson, Software Account Manager, Policy in Practice

30/4/2025

10:30am BST

1.3 hours

Harnessing data for regional impact: empowering local leaders to drive change Devolution is one of the core missions of the new government, promising a strong focus on giving local areas more control over services. To tackle economic inactivity, and with many people across the UK needing support, it’s vital that local authorities deliver effective, targeted interventions. The success of tailored, region-specific approaches depends on how well local areas can harness data to drive change.

Local organisations, from Mayoral Combined Authorities to county councils, need to deliver these crucial services. Accessing and using the data insights required to implement efficient and effective programmes is a challenge and, without localised data, decision making can become less accurate. This leads to inefficient resource allocation and missed opportunities to reach those who need help the most.

Data analysis offers the key to overcoming these challenges. By harnessing the power of local data, authorities can get the accurate insights they need to target support where it will be most effective. With the right insights, local areas can design and deliver services that are more tailored, timely and impactful, ensuring the right residents get the right support at the right time.

Proven results from current data led initiatives already show the transformative potential of this approach.

Join this webinar to hear from guest speakers who have successfully implemented data driven campaigns. They will showcase real world examples of how they have come together to achieve measurable outcomes.

We’ll also explore how these data insights can be applied to address key issues like economic inactivity, youth unemployment and social isolation to deliver lasting change across regions.

21/5/2025

10:30am BST

1.3 hours

Uprating Universal Credit to tackle the cost of living crisis

The Centre for Social Justice asked Policy in Practice to calculate the cost of three policy options to increasing Universal Credit, in order to protect low income households from high and rising inflation.

Option 1: Restoring the £20 weekly uplift to Universal Credit
Option 2: Increasing elements of Universal Credit, as though they had been uprated by 10% in April 2022
Option 3: Restoring work allowances to 2015 levels to help all Universal Credit households in work This was a rapid response policy costing

While we believe these estimates are reasonable and accurate, they were carried out largely using aggregate figures, rather than detailed micro-simulation modeling of survey or administrative data.

Findings

Option 1: Restoring the £20 weekly uplift to Universal Credit

4.2 million households on Universal Credit would gain
The average gain per household would be £1,000 per year
The policy would cost £4.2 billion

Option 2: Increasing elements of Universal Credit, as though they had been uprated by 10% in April 2022

4.2 million households on Universal Credit would gain
The average gain per household would be £729 per year
The policy would cost £3.1 billion

Option 3: Restoring work allowances to 2015 levels to help all Universal Credit households in work

1.66 million households in work and on Universal Credit would gain
The average gain per household would be £442 per year for each household in work
The policy would cost £733 million

Each policy operates independently and can be implemented on its own, or alongside each other

Recommendations

These options are listed in our preferred order.

Restoring the £20 uplift to Universal Credit gets the maximum support to the maximum number of households, and we know from the pandemic that it could be implemented quickly
Increasing elements as though they had been uprated by 10% in April should have happened in April. This lowers the cost to the treasury, if this is a concern it is a sensible alternative to restoring the £20 uplift
Households in work have already benefited from the welcome fall in the withdrawal rate in Universal Credit from 63% to 55%. If the government wants to continue to prioritise support to working people, this is a sensible alternative. However, households who are unable (and not expected) to work would continue to suffer from high and rising living costs.

Since the end of the £20 emergency uplift to Universal Credit, there has been no directly targeted support to the lowest income households. We believe that the chancellor should consider each of these options, and implement one (or all) of them, or propose a better alternative. Doing something is better than doing nothing.