Rishi Sunak's opening statement on cost of living announcement
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The Chancellor has unveiled a wide package of support measures designed to help during the cost of living crisis. From July, pensioner households will be able to secure a payment to support them in this difficult time.
Mr Sunak acknowledged several vulnerable groups who will be most impacted during a time of inflationary pressures.
Older people in many cases have limited incomes, and therefore may struggle, especially if they are in the house for longer periods of time.
It may therefore be impossible to turn off the heating, and payments could be more difficult to manage.
Mr Sunak told the Commons: “Many pensioners are disproportionately impacted by higher energy costs.
“They can’t always increase their incomes through work.
“Because they spend more time at home and are more vulnerable, they often need to keep the heating on for longer.
“We estimate many people who are eligible for Pension Credit are not currently claiming it, which means there are many vulnerable pensioners not receiving means-tested benefits.”
Those in receipt of the Winter Fuel Payment will benefit from the one-off payment.
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The Winter Fuel Payment is traditionally available to those born on or before September 26, 1955.
Individuals typically get between £100 and £300 to help them with heating bills as temperatures plummet.
The seasonal payment is often welcomed by pensioners for providing additional support.
The Chancellor added there is a “collective responsibility” to help those who have been most impacted by the rising cost of living.
Dame Clare Moriarty, Chief Executive of Citizens Advice, said: “Today’s hugely welcome announcement is a life raft for the millions of people struggling to keep their heads above water due to rising costs.
“Our advisers have been working flat out to help families who can’t pay the bills.
“We’ve repeatedly raised the alarm about this crisis and are glad the Government has brought in concrete measures to help.
“It’s particularly good to see support for those at the sharpest end of this crisis.”
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Pensioners on Pension Credit will benefit from further support made available by the Government.
The Chancellor also announced a one-off payment of £650 for those on means-tested benefits.
It means pensioners who have a low income will have more financial support in tough winter months.
With energy bills set to skyrocket even further, this is likely to be welcome news.
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