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Duncan Smith: Universal Credit Will Generate £7Bn In Economic Benefits

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Universal credit, the government scheme to integrate in- and out-of-work tax credits, will generate £7bn in economic benefits annually, largely due to up to an additional 300,000 households finding work once the programme is fully implemented, Iain Duncan Smith, the work and pensions secretary, has said.

The claim was made as the Department for Work and Pensions (DWP) confirmed that millions of existing benefit claimants would not be transferred to universal credit by the end of 2017, or even 2018. Duncan Smith said: “It is wrong to gather people up and dump them into a new system at an arbitrary date.”

The scheme will also produce a modest net administrative saving of £100m a year, caused by the saving of £700m through the closure of existing benefits and the addition of £600m in costs due to more people joining the tax credit system. The total lifetime implementation costs have been set at £1.8bn, of which £1.2bn is yet to be incurred, including a further £120m for IT enhancement.

The government figures form part of a drive to regain credibilityover the universal credit scheme, which has been plagued by delays and software problems that have undermined the effectiveness of the whole government welfare programme [more at link...]

http://www.theguardian.com/politics/2014/oct/22/universal-credit-work-pensions-tax-credit-economy

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Here we go again.He claims all this while adding in the fact "millions" of current benefit claims wont be moved over by 2017 "or even 2018" even though earlier in the year he said everyone would be.He creates these dates and keeps moving them back.

What that means is no working families with children who are now on tax credits will be moved to UC.Because it doesnt work.They cant live track complex cases through the system,the IT doesnt exist to do it.When he says it does he is simply telling lies.

The only people moved on will be single people.Maybe couples and a few hundred token families to look like its working.They will be updated by hand each month.

UC will be scrapped by the next government.They might keep it for single people /couples for political reasons if the Tories get back in.The chances of 7 million families on tax credits being on it are Zero.Zilch.None.

Watch the Conservative manifesto next year.It will have welfare reforms in that talk about tax credits etc when they shouldnt even exist if UC was in.

Edited by durhamborn

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300,000 jobs that are not filled, actually more because it is 300,000 households so a minimum if 500,000 jobs are waiting to be filled as soon as the new benefits computer is completed. I would like to know what magic this compuer system brings that will magic up these 500,000 jobs .... or perhaps the jobs are there now and people either don't know about them or are too busy watching Jeremy Kyle to go out of the house and take them on.

Lolf

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300,000 jobs that are not filled, actually more because it is 300,000 households so a minimum if 500,000 jobs are waiting to be filled as soon as the new benefits computer is completed. I would like to know what magic this compuer system brings that will magic up these 500,000 jobs .... or perhaps the jobs are there now and people either don't know about them or are too busy watching Jeremy Kyle to go out of the house and take them on.

You get two jobs, one self employed filing in your Universal credit claim.

The second PAYE down the dole office typing it onto the computer to work out how much you get.

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Tinker a bit with how benefits are paid and conjure up hundreds of thousands of new jobs - and that's without even any rebalancing of the economy.

Truly the cake gets ever larger.

It might save a bit on admin and it might even potentially be a good idea but any savings will go on bankers' bailouts, bankers bonuses and MPs expenses - to reward their incompetence and their continual production of half baked and freaky ideas.

Then there's elections in the offing so the claims and the promises get writ large.

Edited by billybong

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Tinker a bit with how benefits are paid and conjure up hundreds of thousands of new jobs - and that's without even any rebalancing of the economy.

Truly the cake gets ever larger.

It might save a bit on admin and it might even potentially be a good idea but any savings will go on bankers' bailouts, bankers bonuses and MPs expenses - to reward their incompetence and their continual production of half baked and freaky ideas.

Then there's elections in the offing so the claims and the promises get writ large.

Lolf

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The man is a serial liar. I'd like to see that being a crime instead of words on Twitter.

He was on the news earlier over UKIP over the Mike Read song, going on about how politics was a "serious" business where policy had to be taken seriously, and its application planned and well thought-out. (I kid you not.)

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Every single report nowadays seems to conclude with "doing X could increase GDP by 0.6% over the next 7 years"

In the last week alone I've read that pre-school, equal pay, devolution, regional parliaments and now universal credit could all improve the economy by billions.

There seem to be an amazing amount of think-tanks that just make shit up.

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Every single report nowadays seems to conclude with "doing X could increase GDP by 0.6% over the next 7 years"

In the last week alone I've read that pre-school, equal pay, devolution, regional parliaments and now universal credit could all improve the economy by billions.

There seem to be an amazing amount of think-tanks that just make shit up.

You forgot the whores, and the drugs, and the pensions jamboree.

Ah... didn't read to bottom of thread....

Edited by shindigger

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Come on, you have to admit that including hookers and drug dealers in the GDP figures was a stroke of genius.

But does that mean the Tories will have to be soft on crime now to boost GDP? Every arrest and conviction of a criminal might lower GDP....

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I've come across a couple of people like IDS in my time. The amazing thing is how long people will keep believing it for.

Even when they no longer believe it, they go along with it.

Even when they get annoyed at the duplicity, nothing actually happens. I guess this is how these guys prosper.

Why does the opposition just sit there and ignore it?

In my case, I started to write down what these people were saying and kept my own records for my protection. I wonder if there is a name for the physcological condition involved (theirs, not mine!).

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300,000 jobs that are not filled, actually more because it is 300,000 households so a minimum if 500,000 jobs are waiting to be filled as soon as the new benefits computer is completed. I would like to know what magic this compuer system brings that will magic up these 500,000 jobs .... or perhaps the jobs are there now and people either don't know about them or are too busy watching Jeremy Kyle to go out of the house and take them on.

Basic MMT economics im afraid.

Pump in a million and that puts 9 million into the economy due to the magic of the banking system and credit generation. Thats 8million in new jobs per million "invested"

Yet paying people more in benefits is a drain.

Youd think they could get the story straight for once.

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I've come across a couple of people like IDS in my time. The amazing thing is how long people will keep believing it for.

Even when they no longer believe it, they go along with it.

Even when they get annoyed at the duplicity, nothing actually happens. I guess this is how these guys prosper.

Why does the opposition just sit there and ignore it?

In my case, I started to write down what these people were saying and kept my own records for my protection. I wonder if there is a name for the physcological condition involved (theirs, not mine!).

Yes I have meet people who can look you in the eye and lie. What is amazing I think they actually believe their own lie. It makes them incapable of doing anything wrong in their own eye.

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The central point is that if you stop incentivising people to not work, so more people work then GDP goes up, and that no there isn't a fixed pool of jobs

Edited by Si1

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Here we go again.He claims all this while adding in the fact "millions" of current benefit claims wont be moved over by 2017 "or even 2018" even though earlier in the year he said everyone would be.He creates these dates and keeps moving them back.

I bet IDS is just praying that the Tories lose the next election.

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and that no there isn't a fixed pool of jobs

Quite. Some bizarre thinkers on this forum. Where do you all think jobs come from? 'Govermunt init' is not the answer

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How much has his missus claimed from the EU for her empty fields this year?

Is the empty fields benefit system automated?

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