Those who receive legacy benefits from the Department for Work and Pensions (DWP) and tax credits administered by HM Revenue and Customs (HMRC) are entitled to this support. This is part of the Government’s wider £650 cost of living payment which was introduced by the Prime Minister Rishi Sunak during his time as Chancellor. The schedule for the rollout of the £324 instalment will begin from November 23 and end on November 30.
What is the £324 cost of living payment?
Britons are currently dealing with an inflation rate at a 41-year high and energy bill increases of 27 percent.
To help the country’s most vulnerable households, the Government launched a wave of cost of living support, including a payment of £650.
This was separated into two different instalments, with a second payment of £324 having been handed out to recipients in the last month.
As those on means-tested benefits are entitled to the support, Universal Credit claimants have been one of the first groups to get it.
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Who else is eligible for the £324 cost of living payment?
Around 8.2 million claimants of means-tested benefits, legacy benefits and tax credits are entitled to this support from the Government.
Legacy benefit is the term used to describe a payment which is being entirely replaced by Universal Credit.
Among the affected payments are income-based Jobseekers Allowance, income-related Employment and Support Allowance, income support and Housing Benefit,
On top of this, those in receipt of Child Tax Credit or Working Tax Credit are also entitled to £324.
On top of this, the Government has also launched £300 and £150 cost of living payments for pensioners and the disabled.
These payments will return next year, according to the Chancellor Jeremy Hunt in his Autumn Statement last week.
Mr Hunt also confirmed the cost of living payment for benefit claimants will be hiked for £900 for the year.
Mel Stride, the Government’s Work and Pensions Secretary, shared the importance of people checking their eligibility for the Government’s varied support package.
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Ms Stride explained: “This Government promised to protect those on the lowest incomes, and it is great to be able to confirm today that we have delivered on this commitment with our latest cost of living payment reaching over seven million households in the last week alone.
“This payment is just part of a wider support package the Government has provided, with millions of families benefiting from a Council Tax rebate and pensioners across the country receiving winter fuel support as the weather gets colder and disabled people getting help with additional costs they face.
“We will continue to support the most vulnerable as we deal with the impact of Putin’s illegal war in Ukraine and the aftermath of the pandemic.”
The Chancellor added: “We know families are struggling with the rising prices caused by Putin’s illegal invasion of Ukraine.
“That is why we’ve delivered over seven million cash payments directly into the bank accounts of the most vulnerable households in just one week and will make over a million more to those on tax credits later this month.
“This is part of the £1,200 cash support we’re giving to the poorest members of society during this difficult period.
“At the upcoming Autumn Statement we will continue to prioritise helping the most vulnerable, as we make the tough decisions needed to drive down inflation and fix our public finances.”