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Millions will receive £324 cost-of-living payment in November | Millions will receive £324 cost-of-living payment in November |
(32 minutes later) | |
More than eight million people will get a cost-of-living payment of £324 in November, the government has said. | More than eight million people will get a cost-of-living payment of £324 in November, the government has said. |
It is the second part of a £650 grant to help low-income households cope with soaring food and energy prices. | It is the second part of a £650 grant to help low-income households cope with soaring food and energy prices. |
Those on means-tested benefits will get it directly into their bank, building society or credit union account, the Department for Work and Pensions said. | Those on means-tested benefits will get it directly into their bank, building society or credit union account, the Department for Work and Pensions said. |
The payments will be automatic and will arrive in accounts between 8 and 23 November, the DWP said. | The payments will be automatic and will arrive in accounts between 8 and 23 November, the DWP said. |
It said the support was for those on certain benefits including universal credit and pension credit. | It said the support was for those on certain benefits including universal credit and pension credit. |
How will I get the cost-of-living payments? | How will I get the cost-of-living payments? |
Five charts that explain the cost of living crisis | Five charts that explain the cost of living crisis |
The £650 grant is the largest part of a £1,200 government support package for vulnerable households designed to help with rising prices, and specifically soaring energy bills. But there are no rules on what it must be spent on. | The £650 grant is the largest part of a £1,200 government support package for vulnerable households designed to help with rising prices, and specifically soaring energy bills. But there are no rules on what it must be spent on. |
The first payment of £326 was made in July and appeared in accounts as "DWP Cost of Living" and the November transfer is the final part of this particular support. | The first payment of £326 was made in July and appeared in accounts as "DWP Cost of Living" and the November transfer is the final part of this particular support. |
Who is eligible for cost-of-living payments? | |
A household may be eligible for the £650 cost-of-living payments if it receives any of the following benefits: | |
Universal Credit | |
income-based Jobseekers Allowance | |
income-related Employment and Support Allowance | |
Income Support | |
working tax credit | |
child tax credit | |
pension credit | |
Energy prices rocketed for millions of households on 1 October, but the government stepped in to put a cap on the cost per unit. | Energy prices rocketed for millions of households on 1 October, but the government stepped in to put a cap on the cost per unit. |
It means a typical annual bill based on the average household's usage has gone up from £1,971 to £2,500. That is not as high as once feared but still twice as high as last winter. | It means a typical annual bill based on the average household's usage has gone up from £1,971 to £2,500. That is not as high as once feared but still twice as high as last winter. |
The first tranche of the government's £400 energy grant, which is available to all households, has already started to be paid. | The first tranche of the government's £400 energy grant, which is available to all households, has already started to be paid. |
The discount will be applied over six months, with a reduction of £66 in October and November, and £67 every month between December and March 2023. | The discount will be applied over six months, with a reduction of £66 in October and November, and £67 every month between December and March 2023. |