UK to support low-income households in 2023/24

Reuters/REUTERS

The cash support was announced in autumn statement by Chancellor Jeremy Hunt along with a reduce in public spending and tax raises

Staff Writer, Arab Finance

January 4, 2023

UNITED KINGDOM ECONOMY

PHOTO

Low-income households in the UK will get new cost of living support of up to £1,350 from the government in the financial year 2023/2024, the country's Department of Work and Pensions said on January 3rd.

The cash support was announced in autumn statement by Chancellor Jeremy Hunt along with a reduce in public spending and tax raises.

The money will be sent directly to their bank accounts with three payments over the financial year, the department stated. The government did not set a specific date for the payment schedule.

Although Britain faces a problem in its living conditions and its difficult economic environment, there will be a separate payment of £150 for more than 6 million disabled individuals and £300 for more than 8 million pensioners, the department said.

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