The UK Government have recently announced that they will provide a new cost of living support package to struggling households in the UK.
This new wave of financial support was confirmed in the Autumn Statement, by Chancellor Jeremy Hunt last week, reports Cambridgeshire Live. The Chancellor said that the support package will be delivered throughout 2023 and 2024, and will be worth £26 billion in addition to increased benefits, worth £11 billion.
More than eight million households across the UK will receive additional support to help with the current cost of living crisis, according to the Department for Work and Pensions (DWP).
READ MORE: Martin Lewis issues washing machine warning as expert reveals most expensive time to use appliance
Eligible claimants who are also receiving means-tested benefits could be entitled to an extra £900 on top of their cost of living payment. It is understood that it will be paid in installments, similar to the previous cost of living payments, although more details will be released.
The Chancellor told MP's: "For the most vulnerable we will introduce additional cost-of-living payments next year, of £900 to households on means-tested benefits; £300 to pensioner households; and £150 for individuals on disability benefit."
If you are eligible for the new cost of living payment, are on means-tested benefits, are a pensioner, and are on disability payments, you could be entitled to all four payments at the same time. These total to an extra £1,350 in one year.
In order to be eligible for the new cost of living payments, households must receive one of the following benefits:
- Universal Credit
- Income-based Jobseekers Allowance
- Income-related Employment and Support Allowance
- Income Support
- Pension Credit
- Working Tax Credit
- Child Tax Credit
According to the DWP, the payments are tax-free, and will not count towards the benefit cap or affect any of your existing benefit awards.
READ NEXT
Cost of living payments 2023, who is eligible and how much are they worth
Mrs Hinch fans issue advice on how to keep 'musty' smell off your washing
Air fryer Black Friday deals to watch out for as kitchen 'must have' set to sell out
Glasgow Christmas light switch on reaction as city kicks off this year's festivities
Two Doors Down fans are all saying the same thing about Beth after the latest episode
