- Due to a series of global forces, families and businesses are being hit with everyday price rises. It is the utmost priority of the Conservative Government to help the millions of families struggling with the cost of living.
- That is why the Conservative Government has announced an extra £15 billion of support which will support the most vulnerable households with up to £1,200 – bringing the total package of support to £37 billion to help families tackle the cost of living – part of the Conservative Government’s Plan for a Stronger Economy.
- While it is impossible for any government to solve every problem, the Conservative Government’s priority is to help the millions of families who are struggling now as it secures long-term economic growth with a Plan for a Stronger Economy.
Cllr. Dave Morgan, Shadow Executive Member at Trafford council for Finance and Governance has welcomed an extra £15 billion package of support to help families across Trafford with rising costs and their energy bills – ramping up direct Government support to a huge £37 billion package of cost-of-living support.
Due to a series of global forces, families and businesses are being hit with everyday price rises – to tackle these price rises the Conservative Government have outlined their priority to help the millions of families struggling with the cost of living.
The £37 billion package of support includes doubling the October £200 rebate to £400 – and turning this tranche of support to a non-repayable grant, supporting 8 million vulnerable households with a £650 cost of living payment, helping 8 million pensioner households with a £300 cost of living payment and supporting 6 million people on disability benefits with a £150 cost of living payment.
Today’s support builds on a £22 billion package of support already in place to help families combat global cost of living pressures including global economies reopening following the pandemic, Putin’s war in Ukraine, and a fresh wave of lockdowns in China.
Cllr. Dave Morgan said:
“I know families across Trafford are struggling with rising costs driven by global pressures and rising energy prices.
“That is why I welcome the Chancellor’s Plan, setting out a further £15 billion of support – bringing the total cost of living package to £37 billion – supporting the most vulnerable in Trafford with up to £1,200 per household and directly boosting support for pensioners.
“This timely and targeted support will help those most in need whilst the boosted cash grant of £400 will support families across the board who need support with their bills.”
Chancellor of the Exchequer, Rishi Sunak said:
“We know that people are facing challenges with the cost of living and that is why today I’m stepping in with further support to help with rising energy bills.
“We have a collective responsibility to help those who are paying the highest price for the high inflation we face. That is why I’m targeting this significant support to millions of the most vulnerable people in our society. I said we would stand by people and that is what this support does today.
“It is also right that those companies making extraordinary profits on the back of record global oil and gas prices contribute towards this. That is why I’m introducing a temporary Energy Profits Levy to help pay for this unprecedented package, which includes the new Investment Allowance to incentivise companies to reinvest their profits.”