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Logo. Universal Credit is a United Kingdom based social security payment. It is means-tested and is replacing and combining six benefits, for working-age households with a low income: income-related Employment and Support Allowance (ESA), income-based Jobseeker's Allowance (JSA), and Income Support; Child Tax Credit (CTC) and Working Tax Credit (WTC); and Housing Benefit.
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For those who are still getting Income-based JSA or are getting Universal Credit, and having savings of over £6,000, there is a reduction of £1 per week per £250 of savings up to £16,000. People with savings of over £16,000 are not able to get Income-based JSA or Universal Credit at all. [ 71 ]
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Other kinds of welfare payment such as Universal Credit sum to £83 billion, while £35 billion is spent on disability benefits. [5] [6] Elsewhere, significant public spending is dedicated to health as a result of the taxpayer-funded National Health Service. In financial year 2023–24, £177 billion is budgeted for NHS England. [7] [failed ...