RISHI Sunak today announced a £10 billion rescue package to help families through the cost of living crisis.
Speaking in the House of Commons, the Chancellor said that each UK family would receive an average of £550.
He said: “We know that people are facing challenges with the cost of living and so today I am stepping forward with further support to help with rising energy bills.”
It’s worth noting that all families are getting some help, so there’s no real harm from today’s announcements.
The chancellor announced:
But some families will get more than others, which can leave many feeling a little left out.
We connect the winners and losers to Sage’s rescue plan:
This autumn every UK household is set to get a £400 discount on their energy bill.
£2 to Brits. was determined to receive00 off their energy bills in the autumn, but the offer was rejected as the consumer expected to pay the money.
Now, Rishi has doubled his gift and promises that the families will not have to pay the money.
Withdrawal of money will start in October, like energy price cap Will be sure to rise again.
Millions of older people will get more money this winter, as Rishi is making a one-time payment of £300 to pensioners.
winter fuel discount Older families will be paid to help heat their home this winter.
The so-called “pensioner cost of living payment” will be paid in November or December, Rishi said.
low income families
More than 8 million families are ready to receive cash.
It will be given to all on means-tested benefits including universal credit, pension credit, housing benefit, job-seekers’ allowance and income support.
The money will be distributed in two parts, with the first half expected in July and the rest in autumn.
Rishi assured the families that the extra income would not affect their benefits.
we have scored £650. Full list of benefits to be received One-time cost of living payment.
people on profit
Beneficiaries will be pleased to hear that they are due for a £650 windfall from the chancellor.
But some may be disappointed that they didn’t take the opportunity to increase profits.
profit increased Around 3% in April, but the government has been criticized for not raising them further.
Inflation has reached 9 percent This means the cost of living is rising at a much faster rate than benefit payments, which makes families worse off in real terms because their money doesn’t go as far.
Energy companies will present some bill for Rishi’s bumper to be cheaper.
In recent weeks on Chancellor A. increasing pressure to implement unexpected tax on these companies, and today he finally shot.
Windfall tax is a one-time tax imposed by the government on companies, intended to make firms pay more tax where they have benefited from something they were not responsible for.
it has been pushed up energy bill for customers but enhanced the profits of the supplier.
Sage said today that firms will be subject to a 25% windfall tax on their profits, which will help fund to support families.
The “temporary, targeted energy benefit level” is expected to raise £5 billion.
However, to soften the blow, he offered 90% tax relief for firms investing in UK oil and gas extraction.
Warm Home Discount Receivers
The Warm Home Discount gives struggling families £150 towards their energy bills during the cold winter months.
It is awarded to those who get the Guaranteed Credit element of the Pension Credit, or if you are on a low income and meet your supplier’s criteria.
Those receiving the warm house exemption, however, will not be left out in the cold this winter.
Many claimants will be eligible for either the £650 paid on Universal Credit and Benefits or £300 paid to pensioners.
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