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When the £324 cost-of-living payment will be made

Daisy Phillipson

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When the £324 cost-of-living payment will be made

It's been a good few months since the first instalment of the cost of living payment was paid, with many now wondering when the next one is due - especially now the weather is getting colder.

Earlier this year, former Chancellor of the Exchequer Rishi Sunak announced a package of measures to tackle ever-inflating living costs, including the payment for low-income households.

The first amount totalling £326 was sent to those on benefits from 14 July onwards, with a second payment of £324 due to follow.

Millions of households will get the second instalment of the cost of living payment soon. Credit: Sam Oaksey/Alamy Stock Photo
Millions of households will get the second instalment of the cost of living payment soon. Credit: Sam Oaksey/Alamy Stock Photo

And it looks like the next instalment is due very soon, as the government states that it will be out in 'Autumn 2022'.

Although no official date has been set, now October is officially upon us, we can expect an announcement any day now.

When the first date was set, the government said in a press release: "The second instalment of £324 will be sent to qualifying low income households in the Autumn.

"The payments are designed to be deliberately slightly unequal to minimise fraud risks from those who may seek to exploit this system."

Energy costs are set to soar this winter. Credit: Westend61 GmbH/Alamy Stock Photo
Energy costs are set to soar this winter. Credit: Westend61 GmbH/Alamy Stock Photo

It went on to say: "Low-income households are benefiting from government support in a variety of different ways this year as global inflationary pressures, exacerbated by the unjust war in Ukraine, have caused prices to rise for several essentials.

"The government understands that many people are worried about the impact these rising prices will have on their household finances, which is why £37 billion of support is being provided to boost budgets and mitigate the worst of these pressures."

A total of eight million UK households which qualify for benefits will receive the package, totalling £650, as well as a separate and additional £300 payment for pensioners and a £150 payment for disabled people.

The statement explained: "This is on top of £400 for all households to help with energy bills, and an extra £150 for properties in Council Tax bands A-D."

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Although the payment aims to help keep low income households afloat amid rising inflation and sky high energy costs, there is apprehension about how families will be able to cover their electricity and gas bills this winter.

In spite of UK Prime Minister Liz Truss announcing a two-year freeze on the energy price cap earlier this month, it has still jumped from £1,277 last year to an estimated £2,500, meaning people will still be paying through the nose as we rely on heating to get through the colder months.

Featured Image Credit: FORBES STUART/Judith Collins/Alamy Stock Photo

Topics: Money, UK News, Politics

Daisy Phillipson
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