08 November 2023
The Minister for Social Security, Deputy Elaine Millar, is delighted that the States Assembly has supported her proposition to increase the Income Support component rates from January 2024. This increase will directly benefit over 5,000 low-income households.
This latest change has increased the value of the Income Support components to 20% above the rates in summer 2022, when the current Government was elected.
Last year, immediate action was taken to support Islanders facing challenges with the rising cost of living. This has been followed up this year with significant increases in the Income Support component rates and with additional Income Tax allowances. This latest rise will give all households getting Income Support an increase to their benefit levels from January 2024.
Minister for Social Security, Deputy Elaine Millar, said: "It is reassuring to see that inflationary pressures are starting to ease, but all RPI indictors remain well above the levels that we have been used to over the last decade. Jersey's low-income retail price index tracks the typical expenditure of low-income families. The quarterly value of this index peaked in March 2023 at 8.6%; it fell in June to 6.4% and again in September to 5.8%.
"However, given the rapid rise in prices, an increase for January 2024 linked to that maximum value of 8.6% will make sure that low-income families continue to be well protected against rising prices. I am grateful to the States Assembly for supporting this increase and for collectively ensuring we are helping those that need it the most."