Pensioners in three council tax bands could get | U.Okay.Finance News
The Department for Work and Pensions is reportedly contemplating a transfer that could see solely pensioners in three council tax bands eligible for the £300 Winter Fuel Payment. This transfer could doubtlessly save round £1.5 billion a yr and increasing the benefit to an extra 11 million households. According to Steve Webb, former pensions minister and companion at LCP, more than half of pensioner households (6.3 million) are in band A-C properties.This is often related to decrease incomes, which means that concentrating on Winter Fuel Payment at these teams could assist poorer pensioners. Tom Waters from the Institute for Fiscal Studies (IFS) believes the only method could be to scrap final summer time’s coverage change and “return to giving Winter Fuel Payment to all pensioners”.During PMQs just lately, Sir Keir Starmer mentioned: “I recognise that people are still feeling the pressure of the cost-of-living crisis, including pensioners, as the economy improves.”We wish to make sure people really feel these enhancements in their lives transferring ahead. That is why we wish to be certain that as we go ahead, more pensioners are eligible for Winter Fuel Payments.”As the economy improves, we want to take measures that will impact on people’s lives, and therefore we will look at the threshold, but that will have to be part of the fiscal event.”Mr Webb, the ex-Liberal Democrats Pensions Minister, hit back: “My feeling is that they are deluding themselves if they think a marginal increase in the cut-off point will win them any friends.”The massive majority of pensioners will nonetheless lose their winter fuel allowance, and people simply the improper facet of the new cut-off will even really feel aggrieved.”The Prime Minister has hinted that the means-testing threshold will be lifted so that more pensioners can receive the money, though there remains a lack of details on this.He told BBC Radio 4’s Today programme: “I wish to look again at the place the edge is. That’s for sure. I’ll be clear with you.”In relation to that, I do think it was our duty to stabilise the economy and to fill in that £22billion black hole. And I’m not going to resile from that.”
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