Capital limits unchanged under Universal Credit

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A recent DWP briefing note announced that the capital limits for claiming Universal Credit will remain at £16,000.

The main arguments for raising capital limits under universal credit, the ability to save for a mortgage, the disincentive to save and the change in policy for tax credit claimants are rebuffed in a DWP briefing note, on the grounds of cost and the need to to focus resources on those without the means to support themselves.

The same capital limit will apply for single people and couples, however there will be a six month transition period for people with savings above the capital limit who will be transferring the Universal Credit, for example the 100,000 people claiming tax credits with savings above £16,000.

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