MILLIONS of hard-up Brits are set to receive £650 under plans being drawn up by Jeremy Hunt.
At the Autumn Statement on Thursday, the Chancellor is expected to unveil a new round of cost-of-living adjustments.
For British citizens receiving benefits, Jeremy Hunt is developing plans for a new £650 cost of living payment.
The money will only be given to British people who apply for assistance.
Meanwhile, low-income retirees will likely receive £300 in addition to a further £150 disability allowance.
According to a government source, “Rishi Sunak is sticking with his cost of living plan again” because it previously worked.
The National Living Wage will be increased to £10.40 during the budget, and the Chancellor plans to hike pensions and benefits by 10.1% to keep up with inflation.
But in order to fill a £60 billion financial gap in the country’s finances, he would balance the gifts with significant spending cutbacks and tax increases.
Additionally, Mr. Hunt is anticipated to lower the Energy Price Guarantee so that the typical family will pay roughly £3,000 in bills, up from the current £2,500 but below Ofgem’s £4,000.
There won’t be another £400 in universal payments for Brits, but the tailored assistance for the most vulnerable will resume.
The £650 payment was distributed to recipients of benefits the previous time in two consecutive installments.
In the Autumn Statement, Mr. Sunak committed to being “compassionate,” but he also conceded that “difficult” decisions will be made.
In order to increase revenue for the Treasury, stealth taxes will be implemented through freezes on income, VAT, and inheritance thresholds.
Union pay demands are also being rejected, including nurses’ requests for eye-watering 17.5% pay increases.
In order to prevent additional price increases, Mr. Sunak today added that hefty pay raises for the private sector should also be avoided.
The prime minister said to executives at the G20 conference in Bali: “Of course, I would advise them to embrace wage restraint at a time like this and make sure they are also looking out for all their people. I would often say that.”
Naturally, CEOs of most organizations will be considering compensation settlements for top management and their employees and making sure they are fair in a circumstance like this, I’m sure. I’d like not to witness a rise in labor costs. I’m not the focus here.
Who will get the cost of living payments?
Currently, up to £650 in cost of living allowances are provided to eight million households, but any new regulations may alter the eligibility requirements.
Currently, if you receive Universal Credit, Job Seeker’s Allowance, Employment and Support Allowance, Income Support, Pension Credit, Child Tax Credit, or Working Tax Credit, you are eligible.
As of this month, pensioners will also get an additional one-time payment of £300.
The amount you receive may be more or less than that, depending on your eligibility.
How Universal Credit claimants can get help
Here are some additional ways to get assistance if you’re experiencing a cost-of-living crisis:
Council tax discount
Council tax assistance and, in some cases, a 100% discount may be available to Universal Credit recipients.
The value of your discount is dependent on where you live because each council administers its own reduction program.
Your discount will also depend on your personal circumstances, including your income, the income of your household, the number of children you have, and the number of people who live with you.
Your residency status and the benefits to which you are entitled will also be factors.
Household Support Fund
Councils have received additional funding totaling £421 million to distribute to low-income families.
Previously, the Household Support Fund provided £100 in cash and vouchers for supermarket purchases and children’s clothing in one location.
Your location and circumstances will determine the type of assistance you can receive.
Using this tool, you may look up your local council and see what assistance is offered close to you by entering your postcode.
Cash for paying rent
Your local council may be able to provide cash assistance to those who need it through the discretionary housing payment.
If they are having trouble paying their rent, anyone receiving Housing Benefits or the Housing Element of Universal Credit may be qualified.
The sums available can change, and each local authority distributes the money to people in need on a case-by-case basis.
Here is all the information you require regarding who is eligible for the money and how to apply.
Water bills help
Some water suppliers offer debt write-off plans if you are in arrears or bill assistance if you are on a low income.
You must get in touch with your water company directly because what you can receive relies on them.
For instance, a woman receiving Universal Credit was able to reduce her annual payment by £600 thanks to a Severn Trent water grant.
Numerous water companies also provide cost-effective water-saving devices that reduce your bill by pounds.
Speak with your supplier. Freebies include buffalo bags, which conserve water with each flush, and shower timers. It’s worthwhile to go to SaveWaterSaveMoney.co.uk.
Large families receiving Universal Credit or other benefits might be qualified for a bill cap under the WaterSure program.
You must already have a water meter in place and demonstrate that you use a lot of water in order to be eligible for the program.
