Universal Credit is a payment which is intended to cover the day-to-day costs of those on a low income, who are out of work, or unable to work. The sum received will vary from person to person depending on their circumstances, but Britons can expect to receive it every month. However, research has asserted those millions of low-paid workers, including those on Universal Credit need more help.
“Businesses need to lead the way and it is a win-win situation benefitting from higher skilled staff.
“This is how we build back better and fairer, with more investment in our jobs, more training and more opportunities.”
Ms Coffey established the Commission during a period of record levels of unemployment, where concern rose for many Britons.
However, as a result of the pandemic, the Commission’s focus switched to the structures needed to support levels of economic recovery.
She said: “We had record levels of employment when I was asked to set up this commission – and while that’s important, it’s only part of the story.
“As we look to the future, now is the time for Government and businesses work together to support people into employment, and crucially to progress so they can increase their earnings and reach their full potential.”
People can usually receive Universal Credit even if they are working or slightly increasing their earnings.
Under current rules, Britons can get the payment until their earnings are high enough, at which point the sum then stops.
For every £1 a person earns through wages, their payment of Universal Credit will reduce by a total of 63 pence.
Those eligible for the payment are usually encouraged to use a benefits calculator to see how a job, or higher wages could affect what they receive.