BRITS who could get the most money out of new cost of living payments have been revealed.
Millions are set to receive support packages with the most vulnerable in line for a £1,100 boost.
Hard-up Brits are eligible for hundreds of pounds in handouts to cushion the blow of higher bills.
Rishi Sunak is expected to announce the latest round of cost of living payments at Thursday’s Budget.
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 cuts in a scramble to balance the books
- Make the rich pay more by reducing the threshold for the top 45p rate of tax
At the moment, you’re eligible if you claim Universal Credit, Job Seeker’s Allowance, Employment and Support Allowance, Income Support, Pension Credit, Child Tax Credit and Working Tax Credit.
Benefit claimants will get £650, poor pensioners will get £300 and there will be another £150 disability payment.
According to data released before the autumn statement, reversing the National Insurance rate increase from November could offer some assistance.
A £400 energy bill discount would be a welcome relief to struggling to keep homes warm over winter.
The Energy Price Guarantee is expected to be reduced so the average family pays around £3,000 for bills – above the current £2,500 but less than Ofgem’s £4,000.
Eight million households currently get cost of living payments worth up to £650, but eligibility criteria could change under any new rules.
The average gain from the support measures would best impact under 18s and those aged between 40-49 as well as 50-54.
Those aged 65 years and older would be likely to receive the least support, based on predictions.
Universal Credit claimants could get help with their council tax bills – and in some cases you could get a 100% discount.
Each council runs its own reduction scheme so how much your discount is worth depends on where you live.
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.
