Soaring costs of petrol, utility bills, supermarket prices and more have seen families add hundreds to thousands of pounds to their regular bills.
And to help tackle the financial crisis, the Chancellor of the Exchequer in May confirmed a one-off living allowance of £650 to help those struggling the most.
Rishi said, “We must ensure that support is given to those who find the struggle too hard and the risks too great.”
The payment will be received by eight million households on the lowest incomes in the UK.
When will beneficiaries receive the £650 living allowance? And do you have to apply for it?
When will you get the £650 living allowance?
The sum will be paid directly to eligible households in two payments.
Those who are expecting will receive their first installment from July and the second in the fall, with the exact month to be confirmed.
The money is tax-free and does not affect benefit caps or existing benefit allocations.
Who is entitled to the living allowance?
Those households that receive needs-based benefits receive the subsidy.
This includes the following:
- universal credit
- Income-related unemployment benefit
- social care
- Employee tax credit
- Income-related Employment and Support Allowance
- child allowance
- pension credit
Do I have to apply for a living allowance?
No – if you are eligible for the grant you will automatically receive the £650 spread over the two payments.
The Chancellor said: “Our policy this year will see a higher average payment of £650, while a 9% increase in the same benefits would only be worth an average of £530.”
MORE : How Costco uses psychological tricks to get customers to spend more — and how to get the best value
MORE : The cost of filling up a family car with petrol jumps to £100 the first time
MORE : The gig economy may not survive the cost of living crisis
Follow Metro on our social channels, on Facebook, Twitter and Instagram
Share your views in the comments below
Get the top news, feel-good stories, analysis and more
https://metro.co.uk/2022/06/11/when-do-you-get-the-650-cost-of-living-grant-do-you-need-to-apply-16808558/ When will you get the £650 living allowance? Do you have to apply?