Thousands of households across Milton Keynes will start to receive a £299 Cost of Living Payment from today until 22 February as part of the Government’s £104 billion Cost of Living support package.
The payment will be sent out automatically to around 29,800 low income households in Milton Keynes and recipients do not need to apply to receive it. This includes tax credits-only customers who will receive the payment from HMRC between 16 and 22 February.
It is the third of up to three payments totalling up to £900 paid to eligible households on means-tested benefits over 2023/24 and comes as part of a support package that has helped millions of households since autumn 2021.
Our economy has turned a corner, and we are moving away from the big government, high spending, high borrowing, and high tax approach that was necessary before, and focusing on the long-term decisions required to strengthen our economy and give people the opportunity to build a wealthier, more secure life for themselves and their family.
This includes sticking to the plan to keep inflation down – which has already more than halved - and cutting taxes for hard working people to help them keep more of what they earn and drive down the Cost of Living.
Supporting people into well paid jobs is the best way to help people out of poverty and to give people long term financial independence. That’s why we’re introducing the next generation of welfare reforms, including unprecedented employment and health support to give people long term financial security.
The £2.5 billion Back to Work Plan will break down barriers to work and offer intensive support to those unemployed earlier, while the Chance to Work Guarantee will mean millions of disabled people can try work free from the fear that they could lose their benefits. As well as this, real wages grew 1.3% in the year up to November 2023.
This forms part of wider plans to get Britain working, by tackling inactivity and unemployment, while continuing to support those most in need.
Ben Everitt, the MP for Milton Keynes North, said: "Since I was elected in 2019 this Conservative Government has always put support for low-income households in Milton Keynes and across the UK at its heart to protect vulnerable families from the cost of living increases caused by both the pandemic and Putin's evil war in Ukraine.
"While we have worked hard to get the economy back on track after the pandemic I know this latest £299 Cost Of Living payment to 29,800 families in Milton Keynes brings the total to £900 over the last 12 months is absolutely vital to so many people in our city.
"We are also increasing benefits by 6.7% and the National Living Wage by its largest ever amount."
Mel Stride, Secretary of State for Work and Pensions, added: "The economy has turned a corner, and with inflation falling we are providing millions of the most vulnerable households with another significant cash boost.
"Our fair approach to welfare is underpinned by a belief that the best way to secure long-term financial security is through work.
"This is why we have cut taxes for over 27 million working people and have launched a £2.5 billion Back to Work Plan to help thousands more people off benefits and into jobs.
Jeremy Hunt, Chancellor of the Exchequer, commented: "Our decisive action helped to more than halve inflation last year while building the foundations for long-term growth through sensible tax cuts, which will help people’s money go further.
"But the legacy of Covid and the ongoing Ukraine war has meant the last few years have been tough for many, which is why we’ve provided one of the largest support schemes in Europe worth £3,700 for the average household."
