Universal Credit
noun /ˌjuːnɪvɜːsl ˈkredɪt/
/ˌjuːnɪvɜːrsl ˈkredɪt/
[uncountable]- (in the UK) money paid by the state to people who need financial help to pay for housing, the care of children, the cost of living while unemployed, etc. It consists of a single monthly payment to cover all these needs, instead of separate smaller payments for each area of need.
- The report claims that the new Universal Credit benefits system will help people manage their money better.