Help to Save Scheme: West Midlands
The question
To ask the Chancellor of the Exchequer, how many additional people will be eligible for the Help to Save scheme in the West Midlands from 2028.
Answered by Lucy Rigby
The government is expanding the Help to Save scheme to Universal Credit claimants who receive either the carer’s element or the child element. This will enable more low-income households to build savings, supported by a government bonus, to improve their financial security.
Whilst no estimate has been made of potential take-up of the scheme on a regional basis, up to an additional 1.5 million households could benefit from the scheme from April 2028.
This is an estimate of the number of non-working households who are estimated to be in receipt of the child element and/ or carer element on Universal Credit in April 2028. It is derived from the DWP’s Policy Simulation Model which is a microsimulation model that is based on data from the Family Resources Survey and DWP benefit forecasts. Eligibility estimates are therefore subject to some uncertainty.
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