Millions of households across the UK are struggling to make their incomes stretch to cover the rising cost of living. The government will provide over £15 billion in additional support, targeted particularly on those with the greatest need.
- Almost all of the eight million most vulnerable households across the UK will receive support of at least £1,200 this year, including a new one-off £650 cost of living payment
- Energy Bills Support Scheme doubled to a one-off £400
- £300 Pensioner Cost of Living Payment - over 8 million pensioner households across the UK will benefit
- £150 Disability Cost of Living Payment - around six million people across the UK who receive the following disability benefits will receive a one-off payment of £150 in September:
- This new £15 billion support package is targeted towards millions of low-income households and brings the total cost of living support to £37 billion this year
- New temporary Energy Profits Levy on oil and gas firms will raise around £5 billion over the next year to help with cost of living, with a new investment allowance to encourage firms to invest in oil and gas extraction in the UK
The significant intervention includes a new, one-off £650 payment to more than 8 million low-income households on Universal Credit, Tax Credits, Pension Credit and legacy benefits, with separate one-off payments of £300 to pensioner households and £150 to individuals receiving disability benefits – groups who are most vulnerable to rising prices.
To check what support you can get please visit here.
