Cost of living support package: what does it mean?
Soaring energy bills have had impacted millions of people across the UK. To help ease the impact of the rising cost of living, last week the government announced £15bn of measures to provide targeted support for those who need it most.
Here’s a round-up of what the support package means, and how it may benefit you:
- In October, every household will receive £400 to help ease the energy bill hike this winter. If you’re on a smart meter, the payment will be automatic, if not, you should receive a voucher. As everybody is getting the payment, it is expected to be spread over six months
- A £650 one-off payment will be made to more than eight million households receiving benefits (Universal Credit, Tax Credits, Pension Credit and legacy benefits). There is no need to apply for it, the Department for Work and Pensions (DWP) will pay the money straight into bank accounts for those eligible. It will be paid in two instalments, one in July and one in autumn
- Pensions will receive a one-off winter fuel payment of £300. This payment will also be directly paid to them in November or December
- In September, people receiving disability benefits will be paid £150. As with all the new grants, there is no need to apply, and it will be paid directly to those eligible
If you’re worried about paying your bills, please get in touch – we are here to help. We’ve also put together some tips and advice that could help you save money and keep your home warm.