Cost of living: Eight million households will start receiving child support in July | Economic news

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Eight million households will start receiving cost-of-living payments from July 14, the government has announced.

Low-income households on benefits will receive £326 next month as part of a £21 billion assistance package to help with skyrocketing bills, which was announced last month.

A further £324 will hit their accounts in the autumn, according to the Department for Work and Pensions.

Work and Pensions Secretary Therese Coffey said: “As millions of lowest-income households soon see the first of two cash payments land in their bank accounts, we are taking action to help families directly. to meet the cost of living.

She said the payments – totaling £650 – were part of government plans to put an extra £1,200 “into the pockets of those who need it most”.

Support for vulnerable households includes a previously announced £150 council tax rebate.

Chancellor Rishi Sunak said: “We have a responsibility to protect those who pay the highest price from rising inflation, and we are stepping in to help.

“I said we would be there for people when they need help, and we are.

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Impact of the cost of living crisis

Under the government’s plan, pensioners will receive a £300 payment in November or December, in addition to the winter fuel payment.

People receiving disability benefits will receive an additional £150 by September.

Read more: Why are petrol prices rising so fast and how are we doing compared to Europe

Every UK household will get a £400 cut on energy bills – despite fears it could further drive up inflation.

Mr Sunak announced an emergency cost-of-living program last month, which will be partly funded by a 25% levy on the profits of oil and gas companies.

The tax is expected to generate £5bn, while around £10bn will be covered by additional borrowing.

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