The government has finally confirmed when millions of UK residents will receive their first cost of living payment. Foreign Minister Rishi Sunak announced the aid last month.
Millions of UK residents will receive their first cost of living payment from next month.
Foreign Minister Rishi Sunak announced the package to address the rising cost of living in May.
Both payments must be made in two installments.
Now, the exact date the first installment is set to hit people’s bank accounts is next month.
People in England, Wales, Scotland and Northern Ireland will receive it from 14 July 2022.
According to the government press release issued on June 15, this will be for eligible low-income families.
And the first installment is £ 326.
The issuance of payments will begin on July 14 but will continue until the end of the month.
Meanwhile, the second installment, which is £ 324, is scheduled for the end of the year in the fall.
Payments are “designed to be deliberately slightly irregular to minimize the risk of fraud by those seeking to exploit the system.”
“And the eligibility date for the second tranche will be announced soon,” adds the government press release.
The new payments are expected to be received by over 8 million households.
Thérèse Coffey, Secretary for Work and Pensions, said: “With millions of low-income families soon seeing the first of two cash payments into their bank accounts, we are taking steps to directly help families meet the cost. of life.
“This one-time payment totaling £ 650 is part of our £ 37 billion cost of living support package, which will put an extra £ 1,200 in the pockets of those who need it most.
Sunak acknowledged the government’s “responsibility” to intervene to “protect those who pay the highest price from rising inflation.”
Want all the most important lifestyle news straight to your inbox? Sign up for our free Hot Topics newsletter
He said: ‘In July more than 8 million people will receive their first payment of £ 326 to help raise prices, part of a package worth at least £ 1,200 for vulnerable families.
“I said we would support people when they needed help, and we do.”
In addition to the direct cost of living scheme, people with disabilities can receive an additional £ 150 and retirees an additional £ 300.
Source: Dailystar
Elizabeth Cabrera is an author and journalist who writes for The Fashion Vibes. With a talent for staying up-to-date on the latest news and trends, Elizabeth is dedicated to delivering informative and engaging articles that keep readers informed on the latest developments.
