Rebecca Pow MP welcomes boosted housing support from Government
Rebecca Pow MP has welcomed new legislation introduced to Parliament providing extra support with the cost of housing for households by increasing the Local Housing Allowance.
Having delivered on the Prime Minister’s priority to halve inflation last year, alongside global economic conditions stabilising, the Government is now able to take the long-term decisions required to strengthen the economy and build a brighter future.
Exceptionally high rents, caused by global inflationary pressures, mean housing support provided to many on the lowest incomes have become out of step with market rates. By raising the Local Housing Allowance rate to the thirtieth percentile of local market rents in April 2024, the Conservative Government are supporting over one million families to meet current costs.
Over the next five years, £7 billion will be invested to support 1.6 million private renters on Universal Credit or Housing Benefit across the UK, benefitting households by an average of £800 for 2024-25.
This cost of living support is only possible thanks to the long-term, difficult decisions the Government took to get inflation falling and strengthen the economy.
Commenting, Rebecca Pow MP said:
“This Government has a strong record in supporting those who need help with the cost of living – especially during the continued fight to keep inflation down and tackle higher energy bills. This decision to increase the Local Housing Allowance (LHA) means more of my constituents will receive greater support with the cost of rent – in line with increased rents across the private sector. This will help ensure that the most vulnerable families across Taunton Deane are supported.”
Commenting, Work and Pensions Secretary Mel Stride MP said:
“Housing costs are the number one expense for families. This £1.2 billion boost to Local Housing Allowance, along with our landmark Back to Work reforms, reflects our fair approach to welfare – helping people into employment while protecting the most vulnerable with unprecedented cost of living support.”