Low income households in South Tyneside set to benefit as date announced for first cost of living payment
Low income households in South Tyneside will start to see cost-of-living payments hit their bank accounts on July 14 as part of the Government’s package to help households amid soaring energy prices.
From that date, a first instalment of £326 will start to be paid out to low-income households on benefits, the Department for Work and Pensions announced on Wednesday (June 15).
The second portion of the one-off £650 payment will follow in the autumn, as part of support worth £1,200 that vulnerable households will receive this year, which also includes a previously announced £150 council tax rebate.
Work and Pensions Secretary Therese Coffey said: “With millions of the lowest-income households soon seeing the first of two cash instalments land into their bank accounts, we are taking action to directly help families with the cost of living.
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“This one-off payment totalling £650 is part of our £37 billion cost of living support package that will put an extra £1,200 into the pockets of those most in need.”
Legislation to confirm the £650, as well as the other elements of the Government’s support package, is being processed on Wednesday (June 15).
Chancellor Rishi Sunak said: “We have a responsibility to protect those who are paying the highest price for rising inflation, and we are stepping up to help.
“In July, more than 8 million people will get their first £326 payment to help with rising prices, as part of a package worth at least £1,200 for vulnerable families. I said we would stand by people when they needed help, and we are.”
Under the Government’s plan, pensioners will also receive a £300 payment in November and December alongside the winter fuel payment in a move costing £2.5 billion, while £150 will be paid by September to individuals receiving disability benefits.
Every household in the country, regardless of how well off they are, will get a £400 discount on energy bills, raising concerns the move will further fuel inflation.
The Chancellor announced the emergency cost-of-living support package last month, saying £5 billion of the package would be paid for by a levy on the profits of oil and gas giants, and around £10 billion will be covered by extra borrowing.