This is a worrying time for people as rising prices put more pressure on household budgets. On Thursday 17 November, the Government set out how it will support people on lower incomes as part of its Autumn Statement. We’ve rounded up some of the main points below, and you can find more details here.
- Households on means-tested benefits will receive a Cost of Living Payment of £900 in 2023-24. This includes households receiving: Universal Credit; Income-based Jobseekers Allowance; Income-related Employment and Support Allowance; Income Support; Pension Credit; Working Tax Credit; Child Tax Credit.
- In April 2023 benefits, including the State Pension, will rise by this September’s inflation figure of 10.1%.
- Pensioner households will receive an extra £300 Cost of Living payment in 2023-24 to help with bills.
- People on non-means-tested disability benefits will receive a £150 Disability Cost of Living Payment in 2023-24. This is on top of the Cost of Living Payments for households on means-tested benefits and pensioner households, if eligible. This includes everyone eligible for: Disability Living Allowance; Personal Independence Payment; Attendance Allowance; Armed Forces Independence Payment; Constant Attendance Allowance; War Pension Mobility Supplement.
- In April 2023, the government will also increase the benefit cap in line with inflation by 10.1%. It will rise from £20,000 to £22,020 for families outside of London.
- From 1 April 2023, the National Living Wage will increase by 9.7% to £10.42 an hour for workers aged 23 and over.
If you’re worried about rising costs, our Money Advice service can help. We have access to grants and fund that you might not know about. Please contact us either by phone on 01225 366000, or by email: customeraccountshelp@curo-group.co.uk. We really want to help.