Benefit freeze to cost some households £300 a year - thinktank
1 min read
Some households face losing out on around £300 next year thanks to the benefits freeze and a rise in inflation, new research suggests.
The worst hit households will be single earner couples with two chldren, who will lose £305 a year if CPI inflation goes up to 2.9%, according to the Resolution Foundation.
Single parents in work would face a loss of around £225, while a single unemployed person would be £115 worse off.
The thinktank is urging Philip Hammond to ease off the benefit freeze when he announces his Budget next month.
However holding down increases in benefits is set to boost Treasury coffers to the tune of £1.8bn next year alone.
The Foundation's latest analysis says 2018 is set to be "the year the freeze bites deepest".
Director Torsten Bell said: "With inflation approaching 3%, families are on course for the biggest real-terms cut in the value of their benefits for decades."
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