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Millions to receive £324 cost-of-living payment in November

Rebecca Goodman
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Rebecca Goodman

More than eight million people will receive a payment of £324 in November, the government has confirmed.

It is the second half of a £650 grant to help those on low-incomes to cope with the cost-of-living crisis.

The £650 grant is aimed at helping those who are struggling to meet higher costs. The next payment will be made between the 8 and 23 November.

It is for those who already receive means-tested benefits and it is paid directly into the account where they receive these, the Department for Work and Pensions (DWP) said.

The money is tax free and does not count towards the benefit cap or have any impact on existing benefits.

It has been made available to help those struggling with rising prices. The Consumer Prices Index (CPI) for inflation rose by 9.9% in the 12 months to August 2022, down from 10.1% in July.

Interest rates have also risen, to 2.25%, pushing up the cost of borrowing.

Work and Pensions Secretary, Chloe Smith, said: “Millions of families will soon see a £324 cash boost as part of our extensive £1,200 support package, helping to raise incomes and manage the rising cost of living.

“We understand that people are struggling which is why and we’re committed to supporting the most vulnerable households. That’s also why we are focused on driving growth and delivering quality public services so we can continue to support those in need through these challenging times while boosting opportunity for all.”

Households receiving certain benefits will get the grant

The first part of the £650 grant was made in July.

It is available to those who receive any of the following benefits: Universal Credit, income-based Jobseekers Allowance, income-related Employment and Support Allowance, Income Support, working tax credit, child tax credit, or pension credit.

To help with lower income families cope with the cost-of-living crisis, the government has launched a package of support for vulnerable households.

The government has said eligible people will receive at least £1,200. This will include the £650 payment, £300 for pensioners, and £150 for disabled people.

These people will also receive a £400 energy discount and £150 council tax rebate, which is available to everyone.

However, this support is still expected to fall short of rising prices. Energy bills, for example, have risen to £2,500 and while this is lower than they were expected to rise to, it’s still significantly more than they were even six months ago.