Eight million UK households to receive £2bn Cost of Living support
Millions of households across the UK will start to receive a £299 Cost of Living Payment from yesterday until 22 February as part of the UK Government’s £104 billion Cost of Living support package.
The payment will be sent out automatically and recipients do not need to apply to receive it. This includes tax credits-only customers who will receive the payment from HMRC between 16 and 22 February.
It is the third of up to three payments totalling up to £900 paid to eligible households on means-tested benefits over 2023/24 and comes as part of a support package that has helped millions of households since autumn 2021.
Mel Stride, Secretary of State for Work and Pensions, said: “The economy has turned a corner, and with inflation falling we are providing millions of the most vulnerable households with another significant cash boost.
“Our fair approach to welfare is underpinned by a belief that the best way to secure long-term financial security is through work. This is why we have cut taxes for over 27 million working people and have launched a £2.5 billion Back to Work Plan to help thousands more people off benefits and into jobs.”
Chancellor of the Exchequer Jeremy Hunt added: “Our decisive action helped to more than halve inflation last year while building the foundations for long-term growth through sensible tax cuts, which will help people’s money go further.
“But the legacy of Covid and the ongoing Ukraine war has meant the last few years have been tough for many, which is why we’ve provided one of the largest support schemes in Europe worth £3,700 for the average household.”