Universal Credit founder celebrates taper rate cut in Chancellor's new Budget

• Universal Credit taper rate cut from 63 per cent to 55 per cent, giving claimants more money in every pound they earn

The Centre for Social Justice (CSJ), the think tank which founded the idea of Universal Credit and the taper rate, is celebrating the Government's recent announcement cutting the taper rate from 63 per cent to 55 per cent.

Since it was founded, the CSJ has advocated for the taper rate to be reduced, with its original intention for Universal Credit featuring a rate of 55 per cent.

Commenting on the Chancellor’s Budget, Andy Cook, CEO of The Centre for Social Justice, said:
 
“Work is the best route out of poverty. The CSJ first conceived Universal Credit to make work pay, so it is fantastic to see the Chancellor cut the taper rate from 63p to 55p, inline with our original design. This simple but radical step will allow working families to keep more of their hard earned cash.”