- As global inflation driven by Putin’s illegal war in Ukraine continues to put pressure on households, the Conservative Government is delivering its £94 billion cost of living support package to help vulnerable and low-income families across the country.
- This is why, as part of this record support, eight million low-income households will receive the second Cost of Living payment worth £300 from 31 October 2023, with payments totalling £900 through 2023-24, helping to protect the most vulnerable people from rising prices.
- The Conservative Government is working to deliver on the Prime Minister’s priority to halve inflation this year, while providing targeted cost of living support in the meantime.
James Daly has welcomed the arrival of the second Cost of Living payment worth £300 for 25,200 vulnerable and low income households in Bury from 31 October 2023, as part of the Conservative Government’s record £94 billion cost of living support package.
Eight million households across the UK in receipt of eligible means-tested benefits, such as Universal Credit, Pension Credit, or tax credits, will benefit from the second of three Cost of Living payments totalling £900 in 2023-24. These payments help low-income and vulnerable families affected by rising prices driven by Putin’s illegal war in Ukraine and the aftermath of the Covid-19 pandemic.
This latest payment builds on the Cost of Living payments made last year worth up to £1,200, and form part of the Conservative Government’s record financial support for the most vulnerable, worth an average of £3,300 per household.
The payment will be made automatically so there is no need to apply and it will not count towards the benefit cap or impact on existing benefit awards.
Further support will also be made available for vulnerable households later this winter. Winter Fuel Payments have been boosted again this year with an additional £300 Pensioner Cost of Living payment.
In addition, nearly three million low-income households are eligible for a £150 rebate on their winter electricity bills through the Warm Home Discount, and the Cold Weather Payment is coming into effect from 1 November 2023 to provide eligible households an extra £25 a week when the temperature drops below zero degrees for more than seven days.
The Conservative Government is taking immediate steps to support hardworking families with the cost of living, while working to halve inflation and taking the long-term decisions that are in the best interests of the country.
Commenting, James Daly said:
“The Conservative Government is continuing to do everything it can to cushion households across Bury from the impact of rising prices driven by Putin’s illegal war in Ukraine and the aftermath of the Covid-19 pandemic.
“The record financial support has already supported thousands of families across Bury, and this latest £300 Cost of Living payment for 25,200 eligible households will make a huge difference to the most vulnerable households and those on the lowest incomes as we move into the colder months.
“While the Conservative Government is taking immediate action to support those most in need, they rightly remain committed to halving inflation which is the best way to help everyone with the cost of living.”
Commenting, Mel Stride, Secretary of State for Work and Pensions, said:
“Tackling inflation is the best way to boost people’s incomes, but as we work to halve it, we are protecting the most vulnerable households from high prices with this latest Cost of Living payment.
“Thousands of Work Coaches based in Jobcentres across the country are on hand to help people find work or enhance their skills, and I encourage anyone wanting to strengthen their finances and unleash the benefits of work to contact their local Jobcentre to see what help is available.”
