Universal Credit Roll-Out Delayed For A Further Year

New Work and Pensions Secretary, Damien Green MP, has announced a further one year delay in the roll-out of Universal Credit, meaning the full roll-out of the flagship benefit is FIVE years behind schedule and will not be completed until March 2022 at the earliest. In a written statement to MPs, Mr Green said the decision had been taken due to changes in policy to tax credits and Universal Credit announced in the 2015 Summer Budget, including limiting child tax credit to two children. Read more on the Welfare Weekly website.

Buy-To-Let Measures Risk Damaging Whole Economy

The cross-party Commons Treasury Committee said that jobs, output and productivity could all suffer if a fall in the supply of privately rented homes led to a reduction in labour market mobility. The warning follows the Chancellor's announcement in last year's Autumn Statement that he was imposing a new stamp duty "surcharge" on buy-to-let properties from April as the Government sought to drive up home ownership. It came after Mr Osborne set out plans to restrict mortgage interest rate relief for landlords from 2017 in his Summer Budget following last year's general election. "Were the measures taken to curb buy-to-let to have a substantial effect, they would come at a cost to the wider economy," the committee said. Read more on the Express & Star website.

Housing Benefit: Young People – Parliamentary Written Answer

Chris Law:  To ask the Secretary of State for Work and Pensions, when he will publish draft regulations on housing benefit for 18-21 year olds.

Justin Tomlinson: Removal of automatic housing support for 18 – 21 year olds, announced in the Summer Budget 2015, will be introduced in April 2017. The Department is liaising with a range of key stakeholders as we develop the detail of the policy and once this work is complete we will bring forward detailed proposals.

'I Own 75 Buy-To-Let Properties but I Haven't Deprived Other Buyers'

The Government is coming under increasing pressure to reverse draconian new taxes applying to buy-to-let investors, announced in the July 8 Summer Budget. Landlords argue that not only will the change force them to evict tenants and sell properties en masse, but that it will also prevent the building and development of new homes - hindering the Government’s objective to increase housing supply. The proposed tax change, applying in full from 2020, will only hit those landlords with mortgages. Many landlords have calculated that they will have to pay more than 100pc of their profits in tax when the change is fully implemented. Read more on the Daily Telegraph website.