4.5 C
New York

Cost of living payment: The earliest people can receive their payment | City & Business | Finance

Published:

The UK’s cost of living crisis is an unlucky product of a mix of monetary issues, with Britons struggling under increased taxes, higher energy bills and more. The financial situation for a lot of will likely proceed to deteriorate because the Bank of England expects inflation to enter the double-figure range by the tip of the yr and one other energy price cap boost incoming. The Government has promised to assist weather the blow with a one-off payment due before costs increase again.

When will people receive their cost of living payment?

The Government announced it would supply vulnerable Britons with a £650 cost of living payment in May.

The payment, reserved for a few of the most vulnerable Britons, goes to those on Universal Credit and means-tested advantages.

They may receive the payment in two halves, with the primary coming this week.

READ MORE: Pensioner hits out at ‘age discrimination’ over cost of living payment

The UK’s means-tested advantages include:

  • Universal Credit
  • Income-based Jobseeker’s Allowance (JSA)
  • Income-related Employment and Support Allowance (ESA)
  • Income support
  • Pension Credit

The £650 payment is one in all several Britons can receive this yr, with others due in September, October and November.

DON’T MISS

While these one-off payments will help targeted populations, the Energy Bills Support Scheme will help everyone.

The scheme starts in October 2022 and guarantees £400 for people’s energy accounts because the weather grows colder.

Individuals with a prepayment meter will receive vouchers as an alternative.

As with the associated fee of living payment, it is available in instalments, this time spread over six months.

sportinbits@gmail.com
sportinbits@gmail.comhttps://sportinbits.com
Get the latest Sports Updates (Soccer, NBA, NFL, Hockey, Racing, etc.) and Breaking News From the United States, United Kingdom, and all around the world.

Related articles

spot_img

Recent articles

spot_img