TODAY’S Autumn Statement is expected to confirm that millions on benefits and Universal Credit will get a new one-off £650 payment.
Hard-up Brits are eagerly anticipating confirmation on support options to help ease the stress of rising energy bills.
The Chancellor is expected to announce another round of cost of living packages in today’s Autumn Statement.
Poor pensioners are likely to get £300 and there will be another £150 disability payment.
The Government is also expected to:
- Freeze income tax thresholds, dragging millions more workers into paying higher rates
- Allowing local bosses to increase council tax by 5 per cent up from the current 3 per cent
- Increase benefits and pensions by 10.1 per cent in line with inflation
- Unleash sweeping spending cutsin a scramble to balance the books
- Make the rich pay more by reducing the threshold for the top 45p rate of tax
A payment of £650 will specifically go to Brits who claim benefits.
Prime Minister Rishi Sunak has vowed to protect the poorest as he prepares to strip back energy bill support and let heating costs rise.
Mr Hunt is expected to reduce the Energy Price Guarantee so the average family pays around £3,000 for bills – above the current £2,500 but less than Ofgem’s £4,000.
There will not be another £400 blanket payment for all Brits but the targeted support to the poorest will be rolled out again.
A Government source said: “Rishi Sunak saw his cost of living plan work last time and so is sticking with it again.”;
During the budget, the Chancellor is also set to raise the National Living Wage to £10.40 as well as hiking pensions and benefits by 10.1 per cent with inflation.
He will offset the handouts with sweeping spending cuts and tax rises to repair a £60billion black hole in the nation’s finances.
Mr Sunak has vowed to be “compassionate”; in the Autumn Statement but acknowledged “tough”; decisions will be made.
Stealth taxes will happen via freezes to income, VAT and inheritance thresholds to generate more cash for the Treasury.
Pay demands from unions are also being rebuffed, such as nurses’ plea for an eye-watering 17.5 per cent salary hike.
According to data released before the autumn statement, reversing the National Insurance rate increase from November could offer further assistance.
Universal Credit claimants could get help with their council tax bills – and in some cases you could get a 100% discount.
What help is on offer now?
Struggling families are eligible for the Warm House Discount to help them tackle the cost of living.
The scheme is where eligible households can get £150 off their electricity bill each winter – but you’ll have to wait until the colder months to get the money off.
Households in England and Wales don’t need to apply to get the cash and they’ll automatically qualify if they are receiving certain benefits.
You can read more about who’s eligible here.
There’s a few hardship funds you might be entitled to through you energy supplier.
Contact them and ask to see what is available, though the application process is very in-depth.
You could earn up to £1,500 from the British Gas fund, for instance.
There’s also the cold weather payment, which starts from November 1 onwards and continues through the winter months.
Temperatures drop dramatically from November to February, so it should help people heat their homes more comfortably.
You get £25 for each seven-day period where the weather is below zero Celsius on average during this time frame.
You can check if your area has had a cold weather payment by popping your postcode into the government’s tool now.
You can check if you’re eligible here first.
