A series of financial support measures have already been confirmed for next year – here’s what we know so far
The government is set to issue an extra cash boost next year to help support millions of vulnerable households.
What is the new Cost of Living Payment? According to the government, more than eight million households who claim low-income benefits will receive up to £900 in cost of living support in the 2023/2024 financial years . However, the payment won't be made in one lump sum and will instead be split into varied instalments, the M.E.N reports.
Harriett Baldwin, chair of the Treasury Committee, said: “As winter draws in and temperatures drop, many will be worrying about the cost of their energy and heating bills. Alongside the support already provided this year, the Chancellor has told us that further cost-of-living assistance will be available next winter to recipients of means-tested benefits.
Earlier this year, a disability cost of living payment of £150 was paid to the same groups covered by next year’s grant from 20 September. With a further eight million households will benefit from the announcement of an additional £300 cost of living payment for pensioners next year. Claimants were included in the initial phase from Tuesday, November 8 to Wednesday, November 23, while people who only qualified through tax credits should have been paid between Wednesday, November 23 and Wednesday, November 30.
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