Latest Issue

What to expect from today’s Autumn Statement

A hike in the Living Wage—and changes to Universal Credit

By Alex Dean  

Chancellor Philip Hammond ©Dominic Lipinski/PA Wire/PA Images

There will be a hike in the Living Wage, Philip Hammond will announce today. A reduction in the Universal Credit “taper rate” is also expected.

In his first Autumn Statement since becoming Chancellor—and the first since Theresa May pledged to help the “just about managing,” Hammond will announce an increase in the National Living Wage to £7.50 an hour in April 2017. It is currently £7.20. In addition, £4.3 million will be spent on enforcing the…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to

More From Prospect