• iconNews
  • videos
  • entertainment
  • Home
  • News
    • UK News
    • US News
    • Australia
    • Ireland
    • World News
    • Weird News
    • Viral News
    • Sport
    • Technology
    • Science
    • True Crime
    • Travel
  • Entertainment
    • Celebrity
    • TV & Film
    • Netflix
    • Music
    • Gaming
    • TikTok
  • LAD Originals
    • Say Maaate to a Mate
    • Daily Ladness
    • Lad Files
    • UOKM8?
    • FreeToBe
    • Extinct
    • Citizen Reef
  • Advertise
  • Terms
  • Privacy & Cookies
  • LADbible Group
  • UNILAD
  • SPORTbible
  • GAMINGbible
  • Tyla
  • UNILAD Tech
  • FOODbible
  • License Our Content
  • About Us & Contact
  • Jobs
  • Latest
  • Topics A-Z
  • Authors
Facebook
Instagram
X
Threads
Snapchat
TikTok
YouTube

LAD Entertainment

YouTube

LAD Stories

Submit Your Content
Martin Lewis Explains How Much You'll Get From Government Energy Bill Support

Home> News

Published 08:22 27 May 2022 GMT+1

Martin Lewis Explains How Much You'll Get From Government Energy Bill Support

The money expert has broken down what that Sunak’s rescue deal actually means for UK households on TikTok.

Lisa McLoughlin

Lisa McLoughlin

Martin Lewis has explained just how much you'll get from the government’s energy bill support in a new TikTok video.

Chancellor Rishi Sunak announced on Thursday (May 27) that £15 billion worth of aid will be distributed later this year to help with the ongoing cost of living crisis, including £1,500 for the lowest-income households and energy discounts for all.

In light of the news, the money expert has broken down what that Sunak’s rescue deal actually means in video gaining a lot of traction online.

In short, it includes a £650 one-off payment for Universal Credit and benefits, £300 one-off payment to low-income pensioners, £150 extra one-off disability payment, £400 energy discount for every household and an extra £500 milion for the household support fund.

Advert

Chancellor Rishi Sunak announced £15 billion worth of aid in the Commons on Thursday.
Alamy

At the start of his video, Martin said: "It's quite a good package, and it's probably better than I expected it to be. I am breathing a sigh of relief as it will relieve some of the pressure."

The ITV star then explained that the jump from the average energy price before April to this October's predicted cap means consumers are currently paying almost £1,500 a year more in a typical bill.

Breaking down what the public will get, he added: "If we look at it in the big picture then the £1,500 cost increase will see homes on Universal credit that also have disabilities, getting £12,000, homes on Universal credit and other benefits without disabilities it's £950.

"For pensioner homes it's £700 extra, and all homes, it's £400 towards the costs."

Advert

Going into more detail about what this means for households, Martin continued: "The first, for those people on benefits, there will be a £650 direct payment into people's bank accounts.

"It's a big one off cash payment - it's being done like that I suspect so it doesn't set a precedent, and they won't get the flack like they did with the £20 a week Universal Credit uplift."

Martin then discussed the other side of Sunak’s planned support and said: "For those with non-means tested disabilities, there will be £150 given."

The payments are due to be exempt from tax, without counting towards the benefit cap, and not having any impact on existing benefit awards.

Advert

They'll also be given out automatically and directly from the government in September this year.

Martin then shared: "Now, if you're also eligible for the benefit uplift of £650, you'll get both of them.

"Pensioner homes. Well, you already get the winter fuel payment that's between £100 and £300, and there will be an additional £300 on top of that paid this winter.”

Racing through the breakdown, Martin finished on the 'loan-not-loan' due to land in October for all households to help with rising energy prices and explained that it’s now 'gone'.

Martin Lewis has broken down what households can expect in the next year.
Twitter/@MartinSLewis

Advert

He shared: "That's gone. It's gone and it's been replaced with a straight grant. It's a flat reduction. It applies to every household.”

Earlier this year, Sunak said that households could reduce their energy bills with a £200 discount, which they would have to pay back in £40 instalments over the next five years.

The only point Martin didn’t mention was the extra funding being pumped into The Household Support Scheme.

£500 million is being granted to the fund in October for councils to give to their residents in the form of supermarket vouchers, free cash, and more to help with rising costs.

Ofgem has estimated that the energy price cap will rise to £2,800 in October this year.

Advert

Alongside the grants, Sunak announced a temporary tax levy to tax profits from energy companies, while trying to incentivise further investment.

The extra cash and levy will come as a relief to many across the UK, who have been struggling to cope since the April 1 energy bill increase.

Featured Image Credit: Alamy/Alamy

Topics: UK News, Money, Martin Lewis

Lisa McLoughlin
Lisa McLoughlin

Advert

Advert

Advert

Choose your content:

an hour ago
2 hours ago
3 hours ago
  • X/Mataniels
    an hour ago

    Manchester City slammed for action they took after barman wore Manchester United top for derby

    Manchester City spotted the bloke after being made aware on Twitter

    News
  • Instagram/marielouna__
    an hour ago

    Model heard four chilling words before being ‘thrown off roof’ after Dubai ‘porta potty party’

    Maria Kovalchuk was abused and degraded while attending one of the infamous parties

    News
  • Kennedy News and Media
    2 hours ago

    Couple 'treated like criminals' after being 'accused of fraud and booted out of family holiday' over simple error

    Claire and her family drove all the way to Dorset from Lancashire, only to be 'kicked out' of the holiday park

    News
  • Raycatania.com
    3 hours ago

    Man who died and came back to life recalls the moment he saw 'the afterlife'

    Ray Catania was 20 years old when he 'died' in a house fire at his parents' house

    News
  • Martin Lewis explains refund over a million people can get that's 'very easy' to do
  • Martin Lewis explains why credit scores 'aren't real' and how to actually be accepted for loans
  • Martin Lewis issues one week warning to British Gas, Octopus, Eon, EDF, and OVO energy customers
  • Martin Lewis 'shocked by how many people' are making costly car insurance mistake