New cost of living payment set to benefit north-east households
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MORAY households are to join millions across the UK in receiving a new cost-of-living payment from next month.
Millions will receive the first of two cost of living instalments totalling £650 from July 14, part of the £1200 support package this year
The initial automatic instalment will be £326, with the rest to follow in a second instalment in the autumn.
The first instalment of the £650 for qualifying low income households in England, Wales, Scotland and Northern Ireland will land in bank accounts from July 14, continuing to the end of the month.
The move will see millions of households initially £326 – in total, millions of households will receive at least £1200 from the government this year to help cover rising costs.
It comes as part of £37 billion government package to help more than eight million households with cost of living pressures.
Work and Pensions Secretary, Thérèse 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.
“This one-off payment totalling £650 is part of our £37 billion cost of living support package that will put an extra £1200 into the pockets of those most in need.”
Chancellor of the Exchequer Rishi Sunak added: “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 over eight million people will get their first £326 payment to help with rising prices, as part of a package worth at least £1200 for vulnerable families. I said we would stand by people when they needed help, and we are.”
The second instalment of £324 will be sent to qualifying low income households in the autumn. The payments are designed to be deliberately slightly unequal to minimise fraud risks from those who may seek to exploit this system.
The eligibility date for the second instalment will be announced soon.
Other support measures include a separate £300 payment for pensioners, and a £150 payment for disabled people, which can be paid on top of the £650 payment.
The government has also expanded support for the Household Support Fund – which helps people with food and energy bills – with an extra £421 million, on top of £79 million for devolved nations; the total value of this support now stands at £1.5 billion.