Energy prices 1 - the cost of living payment

Everyone knew that today's announcement on energy costs was going to be bad, but the actual figures are extremely worrying.

Energy prices were already high for a large number of reasons before February, but it is important to stress that one man bears the whole responsibility for prices reaching these ridiculous levels and it rests with Vladimir Putin for starting his illegal invasion of Ukraine.

As another step in the action the government is taking to deal with the cost of living crisis, yesterday it was announced that over one million families claiming tax credits will receive their first Cost of Living Payment from 2 September, ensuring families have the support they need as we help people manage cost of living pressures.

  • As we tackle global inflationary pressures, we must tailor our support to protect those most in need, especially from rising energy prices.
  • That is why the £326 government payment will be paid automatically into eligible tax credit-only customers’ bank accounts between 2 and 7 September 2022. The first HMRC payments will total around £360 million – as part of our £1,200 package of support for low-income benefit claimants.
  • These payments will ensure the lowest earners in our society have the support they need to manage the cost of living – as part of our £37 billion package. Further support can be found here.

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