Nearly £5 billion of support has been paid to help households with their energy bills this winter
- Over £4 billion was paid to pensioners between November and March through the Winter Fuel Payment and Pensioner Cost of Living Payment
- An estimated £550 million has been spent this winter as part of the Warm Home Discount to support three million households
- Over 1.1 million £25 Cold Weather Payments have been made to households in England and Wales
Halving inflation has ensured everyone’s money goes further, however we remain committed to supporting households across the country with 11.8 million pensioners receiving up to £600 in Winter Fuel Payments and Pensioner Cost of Living Payments.
On top of this, the Department for Work and Pensions (DWP) has today estimated over 1.1 million Cold Weather Payments worth £29.6 million were paid out from November until the end of March – with over £9 million of this going to low-income pensioners receiving Pension Credit.
Further support was also made available through the Warm Home Discount – to support three million households at risk of fuel poverty, allowing families to keep costs down and more money in their pockets. The Government expects partnered energy suppliers to have spent around £550 million this winter across Great Britain, through direct bill rebates as well other financial and energy efficiency support.
This support was needed to protect everyday Brits from the inflationary impact of Putin’s illegal war in Ukraine – helping millions of people get through the winter. Now – with energy bills dropping, wages rising, and taxes being slashed – people are set to have more cash in their pocket to help fire up the economy and beckon in more growth.
We have turned a corner after the shocks of the past few years, and we are in a new economic moment and 2024 will prove to be the year that the economy bounces back.
Minister for Pensions, Paul Maynard said: “This Government’s actions have provided vital support to pensioners most in need.
“Halving inflation has helped everyone’s finances, and we remain committed to protecting our older loved ones across the country, with 11.8 million pensioners receiving up to £600 in Winter Fuel and Pensioner Cost of Living Payments.
“And we are uprating the State Pension further from next week, meaning the full yearly basic State Pension will be £3,700 higher than in 2010, whilst the full rate of the New State Pension will rise above £11,500 a year.”
From this week people will start to see an increase in their Local Housing Allowance rates – benefitting some of the poorest families on either Universal Credit or Housing Benefit who will gain around £800 a year on average. This puts more money in the pockets of the lowest earners – giving them more spending power to boost their local economy.
The UK Government is delivering £108 billion of support over 2022-2025 – worth an average £3,800 per household – and will continue to drive down inflation to help everyone’s money go further.
These measures are boosted in April with Universal Credit and other benefits rising in line with inflation by 6.7 percent, and the State Pension increasing by an inflation-busting 8.5 percent – making sure that targeted support is going to those who need it most.
