These Regulations provide for the changes to the work allowance and taper rate in universal credit announced by the Chancellor of the Exchequer on 27th October 2021.

In accordance with regulation 1, the changes have effect for new awards of universal credit beginning on or after 24th November 2021 and, for claimants entitled to universal credit on that date, for any assessment period that ends on or after that date.

Regulation 2 provides for the reduction of the taper rate from 63% to 55%. It also provides for a consequential change in relation to the formula for calculating surplus earnings under regulation 54A of the Universal Credit Regulations.

Regulation 3 provides for the increase to the work allowance.

A full impact assessment has not been produced for this instrument as no, or no significant, impact on the private, public or voluntary sectors is foreseen.