A cost-of-living statement
27 May 2022
On 26 May 2022, Chancellor of the Exchequer, Rishi Sunak, delivered a cost-of-living support package to government.
Within the statement, there was confirmation that:
• The energy rebate would double from £200 to £400 – this will no longer need to be repaid
• Low-income households will receive a one-off payment of £650
• People with disabilities and pensioners will receive targeted support, with one-off payments of £150 and £300 respectively
• The energy sector will see the introduction of a temporary levy surcharge of 25%.
It's no secret that inflation rates are really high at the moment, and there's currently a cost-of-living crisis. Can we expect to see further changes to combat this in the near future? Only time will tell....
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