What the government’s budget means for you

The government has announced a range of new measures. Some of these were announced earlier in the year, so you may have already heard about them. Find out what these could mean for you and your family, and how we can help.  

Government measures 

Income tax thresholds 

Personal tax thresholds will stay frozen until April 2028. The thresholds determine when you start paying tax.  

Minimum wage 

The National Living Wage paid to people over 21 will go up by 6.7% from £11.44 an hour to £12.21 in April 2025.  

The National Minimum Wage for 18- to 20-year-olds will see a 16% increase from £8.60 to £10. 

Pension Credit 

The government’s Pension Credit tops up your state pension. It gives you extra money to help with living costs if you’re over State Pension age. 

Check your eligibility 

 Winter Fuel Payment 

People who receive Pension Credit, will also still be able to get the Winter Fuel Payment, which provides pensioners with up to £300 to help pay energy bills in the winter.  If you’re not claiming Pension Credit, you’ll no longer get this support, so it’s important to make sure you’re registered for Pension Credit if you’re eligible for it.  

Read more about it and check if you’re eligible 

Warm Home Discount Scheme 

You could get £150 off your electricity bill this winter, under the Warm Home Discount Scheme.  

Rent settlement 

The government recommended social rents to increase by inflation, plus 1% for the next five years. We spend £100m every day on repairs, but knowing how much your rent will go up by helps us better plan what we can spend, to improve our homes and build new ones – meaning better homes for you.  

Universal Credit 

This year, there are 53 weeks instead of the usual 52. If you pay rent weekly, you’ll need to pay for an extra week. If you pay monthly by direct debit, or if you’re a leaseholder or homeowner, this doesn’t affect you. For residents receiving Universal Credit, it won't cover the extra week and so you’ll need to make an extra payment. 

Find out more  

How we can help 

Money saving advice services 

LEAP are a free energy specialist advice service, they’ll go through your bills with you in detail, find the best solutions and providers to save you money, and can even switch providers on your behalf.  You could save over £200 every year.  

Pocket Power can help with your energy bills and beyond, including reducing your mobile phone bill and access to food vouchers.   

All you need to do is complete the online form, and we’ll refer you to them for a free session.  

Tips and tricks 

Spend less and keep warm with our top tips to reduce your energy bills.  

We can help 

We’ve put together a list of organisations and online resources to help you. Covering everything from energy bills, food costs and debt advice to training and wellbeing support. 

Use Support Finder 

 For more information or support get in touch. 

Read more  

Money Saving Expert 

BBC