- The Conservative Government has delivered on its commitment to halve inflation by the end of the 2023, but too many vulnerable people are still feeling its effect which is why targeted cost of living support is being delivered to those most in need.
- Over December, nearly twelve million payments have been made to pensioners across the UK – meaning that more than 99% of eligible pensioners have received up to £600 per household to help with their energy bill over the Christmas period for the second year running.
- As the economy turns a corner, with inflation halved and debt on track to fall, the Conservative Government is taking the long-term decisions to strengthen the economy while continuing to support the most vulnerable.
Greg Hands has welcomed the arrival of the Winter Fuel Payments and Pensioner Cost of Living Payments for pensioner households in Chelsea and Fulham, worth up to £600, as part of the Conservative Government’s record £104 billion cost of living support package.
Over December, around 11.9 million payments totalling more than £4.8 billion have been made to pensioners across the UK. This means that more than 99% of eligible pensioners have now received up to £600 per household to help with their energy bill for the second year running as the Conservative Government continues to target support at those most in need.
The payments build on the Conservative Government’s commitment to support pensioners in retirement. Following 2023’s record 10.1% increase to the State Pension, it will increase again by 8.5% from April 2024, in line with earnings – bringing the New State Pension to over £11,500 a year, an increase of more than £900.
Further support has also been made available for vulnerable households this winter. Low-income households are receiving Cost of Living Payments worth £900 during 2023-24, and nearly three million low-income households are eligible for a £150 rebate on their winter electricity bills through the Warm Home Discount. The Cold Weather Payment has also now come into effect providing eligible households an extra £25 a week when the temperature drops below zero degrees for more than seven days.
Thanks to the difficult decisions taken by this Conservative Government to deliver on the Prime Minister’s priorities, the economy has turned a corner with inflation halved and debt on track to fall. The Conservative Government is now focusing on taking the long-term decisions required to strengthen our economy while continuing to support the most vulnerable across the country.
Commenting, Greg Hands said:
“The Conservative Government took unprecedented action to help households across Chelsea and Fulham from the impact of rising prices driven by Putin’s illegal war in Ukraine and the aftermath of the Covid-19 pandemic.
Pensioners in Chelsea and Fulham are already receiving record increases to their State Pension, and these latest payments will make a huge difference to help pensioners with their energy bills and household budgets over the Christmas period and into this year.
The Conservative Government has delivered on its commitment to halve inflation by the end of 2023, which is the best way to put more money in the pockets of hard-working people, and rightly continues to take the long-term decisions to support pensioners.”
Commenting, Mel Stride, Secretary of State for Work and Pensions, said:
“We have honoured our commitment to protect pensioners throughout the cold winter months by paying out £4.8 billion of direct support in a matter of days.
“As well as getting this vital money to millions of pensioners, we have fulfilled our pledge to halve inflation and boosted the State Pension through the Triple Lock to ensure pensioners are supported after a lifetime of work.”
ENDS
