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Millions of UK households to receive £301 Cost of Living payment from DWP soon

THE UK’s Department for Work and Pensions (DWP) has announced that the first Cost of Living payment of £301 will be automatically sent out to eligible recipients as part of a support package totaling £900, in three instalments.

The DWP estimates that more than eight million households will receive this financial boost, with the payment expected to arrive in bank accounts between April 25 and May 17, 2023. Those who qualify for the £150 disability cost of living payment and the £300 pensioners’ payment later in the year could receive up to £1,350 in total.

To be considered for the £301 payment, individuals must have received one of the following payments between January 26 and February 25, 2023: Universal Credit, Income-based Jobseekers Allowance, Income-related Employment and Support Allowance, Income Support, Working Tax Credit, Child Tax Credit, or Pension Credit.

Mel Stride, Secretary of State for Work and Pensions, emphasized that the government’s priority is to support vulnerable households, with a long-term goal of helping people out of poverty through work. The recent announcement of additional Work Coach support aims to assist more people in finding employment or increasing their working hours.

Chancellor of the Exchequer Jeremy Hunt acknowledged the challenges that many people face, and highlighted the measures in the Spring Budget designed to alleviate the cost of living. In addition to the direct cash payments, these measures include an extension of the Energy Price Guarantee to reduce bills until energy prices decrease, an increase in the National Living Wage to £10.42, and an end to the prepayment meter premium. The government aims to cut inflation by more than half this year to ensure that everyone’s incomes go further.

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