As part of a support package worth £26billion, the Government will be distributing cost of living payments to eligible Britons to support them with rising prices. The scheme offers a payment of £900 split into three instalments, and Britons must be claiming certain benefits to be eligible.
The payment schedule for the cost of living payments, as well as the disability and pensioners’ cost of living payments, have now been determined by the Department of Work and Pensions (DWP) for the 2023/24 financial year.
Work and pensions secretary Mel Stride said the payments are intended to help people right across the UK over this year and the start of the next, as “consistent, targeted and substantial” support for the most vulnerable continues.
“Our wider support package, including the Energy Price Guarantee, will ensure every household is being helped through this challenging period of high inflation, caused by Putin’s illegal war and the aftershocks of the pandemic.”
Chancellor Jeremy Hunt added: “These payments are the next part of the significant support we are providing through this challenging time, with millions of vulnerable households receiving £900 directly into their bank accounts this financial year alongside additional help for pensioners and those with disabilities.
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This builds on the Government’s wider support package, which includes further funding for the Household Support Fund, bringing its total value for October 2021 to March 2024 to over £2billion.
The fund is distributed to English councils, who know their areas best and are then able to offer direct support for those most in need in their local area.
Benefits are also set to rise in line with September 2022’s inflation rate from April, which will see a 10.1 percent increase for pensioners and those with the lowest incomes.
