Cost of living payment – updates: First £301 instalment missing for millions today as payments falter

It is the first of three cost of living payments, totalling up to £900

Related: Martin Lewis predicts when £900 cost of living payments will be made

Millions of people across the UK are waiting to receive their £301 cost of living payment due from today.

People expecting to receive the first of the three payments have taken to social media to complain.

One user said: “Well no cost of living payment for me yet. Not expecting mine anytime soon.”

While another added: “People be mocking people like me who are impatient in getting the cost of living payment. Those people are the kind of people who can afford to wait. Well I’m sorry but some of us can’t.”

This is the first of three payments, totalling up to £900, for those eligible and on means-tested benefits, such as universal credit or pension credit, in 2023/24.

Around 8 million households will receive the government assistance that was developed to help people during the cost of living crisis.

The Department for Work and Pensions will send payments automatically and directly to recipients’ bank accounts, with a reference of their national insurance number followed by “DWP COL”.

[25 April 2023 08:30 · Thomas Kingsley]

Government ‘cannot borrow forever,’ Jeremy Hunt says

Chancellor Jeremy Hunt said the government was right to spend on energy support in the cost-of-living crisis, but warned “we cannot borrow forever”.

He said: “These numbers reflect the inevitable consequences of borrowing eye-watering sums to help families and businesses through a pandemic and (Vladimir) Putin's energy crisis.”

He added: “We stepped up to support the British economy in the face of two global shocks, but we cannot borrow forever.

“We now have a clear plan to get debt falling, which will reduce the financial pressure we pass on to our children and grandchildren.”

The ONS figures showed government borrowing reached £21.5 billion last month - £16.3 billion higher than a year ago and the second-highest March borrowing on record due to the energy support payments.

Most economists had predicted borrowing of £22.8 billion in March.

[25 April 2023 09:13 · Thomas Kingsley]

Energy bill support has seen government borrowing balloon since it was put in place last October to help households and businesses cope with rocketing gas and electricity bills following Russia's invasion of Ukraine.

Mr Hunt announced in last month's Spring Budget that the energy price guarantee capping bills at £2,500 a year will be extended for households for another three months, from April to June.

The past financial year has also seen two of the highest months for interest payments on government debt on record.

Debt interest payments stood at £3.9 billion in March, £400 million higher year-on-year, though far less than the £20 billion seen last June as inflation has been easing back from last year's painful highs.

[25 April 2023 09:43 · Thomas Kingsley]

Primark sees sales rise amid cost of living crisis

Primark has seen a surge in sales after prices went up and shoppers flocked to city centres, owner Associated British Foods (ABF) said.

Sales at the value fashion retailer in the UK jumped by 15 per cent in the six months to early March, compared with the same period a year ago.

Across Primark, which includes shops in countries around Europe, sales rose by nearly a fifth to £4.2 billion, beating the group's expectations for the period.

More shoppers returned to high streets and retail parks, and business boomed at city centre stores amid a resurgence in office workers and tourists, ABF said.

Shops also attracted new customers as people hunted down more affordable items amid soaring living costs, leading to an increase in the volume of sales.

But average selling prices went up as the business tried to offset some of the impact of cost inflation.

[25 April 2023 11:00 · Thomas Kingsley]

Are you eligible to receive today’s £301 cost of living payment?

The first of three new cost-of-living payments to help households on low incomes through the inflationary crisis will start to be sent out to bank accounts from today.

More than eight million households will receive the £301 lump sum from the Department for Work and Pensions, with those eligible set to be paid the first instalment at some point between Tuesday and 17 May.

The payments will be received by those in receipt of means-tested benefits.

These include Universal Credit, Pension Credit, Income-based Jobseekers Allowance, Income-related Employment and Support Allowance, Income Support, and tax credits.

Read the full story below:

[25 April 2023 12:00 · Thomas Kingsley]

Who will receive the £301 cost of living payment today?

One million families are set to receive a £301 cost of living payment between April and May, HMRC has confirmed.

The payment will be made to those who claim tax credits from HMRC and no other Department for Work and Pensions (DWP) benefits.

It is the first of three cost of living payments Tax Credit claimants will receive, totalling up to £900 overall for those eligible in 2023-24.

Read the full story below:

[25 April 2023 13:00 · Thomas Kingsley]

May dates for DWP payments, benefits, pensions and cost of living top ups

Millions of people across the UK continue to struggle with soaring bills as the cost of living crisis persists.

With inflation still in double digits at 10.4 per cent – having risen unexpectedly in March – the cost of goods in supermarket aisles and on high street shelves remains high, stretching household budgets after a long winter of expensive energy bills.

And, while there is plenty of state support available, it can be tricky to keep track of precisely which initiatives are currently in play and how long for.

Read more below:

[25 April 2023 13:20 · Thomas Kingsley]

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