Chancellor Jeremy Hunt has announced a series of new cost of living payments to help millions of households across the country offset record-breaking inflation rates and soaring energy bills.
The new package of financial support is worth £26 billion in 2023-24. The Chancellor confirmed payments of £150 for individuals on disability benefits, £300 for pensioner households and £900 for those on means-tested benefits.
The new cost of living payments follow on from this year’s support with a noticeable increase of £250 for people in receipt of means-tested benefits such as Universal Credit and Pension Credit.No timeframe was offered by the Chancellor other than “next year” and guidance on GOV.UK simply states 2023/24.
However, in a 10-minute reaction video to the Autumn Statement, Martin Lewis shared his predictions for when people can expect to receive the payments.The consumer champion said: “As for exactly when they’ll be paid I don’t know yet.
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