New cost of living support payments will go out to millions of households in the next financial year, starting in April 2023. Chancellor Jeremy Hunt confirmed that the £94 billion package had been put in place to support struggling families in his Spring Budget yesterday (Mar 15).
He said that cost of living payments over the previous year, combined with the extension of the £2,500 Energy Price Guarantee and the uprating of benefits, meant that every household in the country will have benefited from an average of £3,300 worth of support. And over the coming financial year, more one-off payments will be made to various groups – constituting the largest package of its kind in Europe, Birmingham Live reports.
Over the last year, payments worth £650 were paid to people on certain means-tested benefits, while those on disability benefits received a £150 payment and pensioners got extra support worth up to £300. Those three groups will be helped again over the next year, with the means-tested benefits support payment now boosted to £900.
