Martin Lewis has given his honest thoughts on the government's latest cost of living crisis help.
Recently, Prime Minister Liz Truss announced a Price Cap Guarantee for energy bills, meaning the average household bills won't be anymore than £2,500. The government has also promised a £400 winter electricity discount for all households, which will be automatically paid as £66 or £67 per month from October until March.
There will also be other help available for those on low incomes or with a disability. Pensioners will receive a payment of £300 and anyone claiming a disability benefit, such as PIP, will get £150.
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Other people on benefits, such as Universal Credit or Tax Credits, will receive a top-up of £650. This will be paid in two halves, with the first half already being paid and the second half due by the end of the year.
Appearing on Martin's Money Show Live, on ITV, co-host Angellica Bell asked: "What do you think of this? Is this a good solution?" Martin replied: "People will know I campaigned quite ferociously for there to be action this winter because I thought we were heading for a financial catastrophe with bills that people couldn't afford."
Referring to the £400 credit off energy bills, that everyone will receive, and the Energy Price Guarantee, the Money Saving Expert said: "Look, this system is very expensive because it helps everybody. Wealthy people, like me, see a reduction and it isn't particularly targeted at those at the lower end because everyone gets the same unit rates.
"It is an expensive way to do it but it is action. I think most people will breathe a sigh of relief to hear that and I called for action and so I welcome it.
"I'm not saying it's perfect. I'm not saying there aren't caveats but I absolutely welcome this intervention."
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