'My £15bn will help ease the cost of living crisis but we must prioritise economic growth over state handouts,' says Rishi Sunak
The Department for Work and Pensions will make the payment in two lump sums, the first from July and the second in the autumn.
I have doubled the support being given to people. Not only that, but I am also adjusting the scheme so this payment is delivered as a grant, meaning you don’t have to repay a single penny of this money.This package is on top of the existing £22billion cost-of-living support which I set out earlier this year, including a council tax cut, a £330 tax cut for millions of workers through theGovernment support for the cost of living now totals more than £37billion this year.
Things have not been easy but just like in the pandemic, we are not going to let people face these challenges alone. Demand is going up rapidly across the globe as people come out of the pandemic, which is causing bottlenecks in our supply chains and making goods more expensive.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rishi Sunak insists £15bn cost-of-living help will have ‘minimal’ impact on inflationChancellor denies package is un-Conservative, after thinktank describes it as ‘something Gordon Brown could be proud of’
Read more »
Rishi Sunak insists £15bn cost-of-living help will have ‘minimal’ impact on inflationChancellor denies package is un-Conservative, after thinktank describes it as ‘something Gordon Brown could be proud of’
Read more »
Boris Johnson says UK ‘not necessarily’ heading for recessionPM sounds upbeat note on economy amid some disquiet among Tory MPs over £15bn cost of living package
Read more »
Rishi Sunak unveils a new plan to ease Britain’s cost-of-living squeezeThe government has reversed its stance on a windfall tax for political reasons above all: the policy is wildly popular
Read more »
Rishi Sunak denies his cost-of-living bailout will make crisis worseDespite warnings of a sting in the tail of higher taxes and borrowing, the Chancellor said every household would get £400 off energy bills. The neediest will pocket as much as £1,500.
Read more »