LONDON – Households in the UK will begin to receive the third £299 cost-of-living payment starting today, as part of a support package implemented since autumn 2021. This payment is the third of up to three instalments totalling up to £900 paid to eligible households on means-tested benefits over the course of 2023/24.
According to the Department for Work and Pensions (DWP), payments will be distributed automatically across the UK between February 6 and 22. Eligible households receiving tax credits only will receive payments from HM Revenue and Customs (HMRC) between February 16 and 22.
Mel Stride, Secretary of State for Work and Pensions, expressed that “the economy has turned a corner, and with inflation falling we are providing millions of the most vulnerable households with another significant cash boost.”
Those entitled to receive up to three Cost of Living Payments of £301, £300, and £299 include individuals receiving income-related Employment and Support Allowance (ESA), Income Support, Pension Credit, Universal Credit, Child Tax Credit, and Working Tax Credit.
In addition to the cost of living payments, the UK Government also plans to continue supporting vulnerable people by uprating benefits in line with inflation by 6.7%, maintaining the triple lock, and increasing the state pension by 8.5%, among other measures.
The Help for Households website can be used to explore available cost-of-living schemes. Furthermore, the number of people needing a breathing space from their debts has increased by 25% in 2023 compared with the previous year, according to figures released by the Insolvency Service last week.
The article also outlines other winter benefits available to people as cold weather hits in the winter months, including Cold Weather Payments, Warm Home Discount, and Winter Fuel Payment. The various schemes aim to provide financial assistance to those experiencing hardships during the winter season.