An updated impact assessment showed the plans – initially designed to save £5bn to help Rachel Reeves balance the books, but predicted to put 250,000 people including 50,000 children into relative poverty – will now save nothing, but actually lift 50,000 adults and 50,000 children – 100,000 in total – out of relative poverty.
The Government also U-turned by exempting existing claimants from a freeze in the higher rate of health-related universal credit.
Reeves, the Chancellor, has since signalled that tax rises will be needed to cover the black hole that has been left in the public finances after the U-turns on welfare and the winter fuel payment.
It has led to calls on Reeves to consider a wealth tax, which she has previously ruled out.
But The i Paper understands that Labour whips are expecting these to be limited and unlikely to come close to threatening the Government’s majority or forcing concessions.
This is a breaking news story and will be updated.
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