Over eight million low-income families are set to receive £301 cost-of-living payment from today.
This is the first of up to three payments for those eligible on means-tested benefits, including Universal Credit, Pension Credit and tax credits, totalling £900 through 2023/24.
These will be accompanied by a £150 payment for people on eligible disability benefits this summer, and a £300 payment on top of Winter Fuel Payments for pensioners at the end of 2023.
Mel Stride, secretary of state for Work and Pensions, said: ‘This latest additional payment will be welcomed by millions of families – as will further payments due over the next year.’
Jeremy Hunt, Chancellor of the Exchequer, added: ‘The best thing we can do to help people’s money go further is deliver on our priorities to halve inflation and grow the economy.
‘But we’re also here to help people through these tough times, which is why we’re holding down energy bills, freezing fuel duty, increasing Universal Credit, and giving £900 payments to low income and vulnerable families - all in part funded through windfall taxes on energy profits.’