Summer Cost of Living Payments Set to Hit Bank Accounts in June

Concerning the cost of living payments that will be available this summer, households are being warned. In some areas of the UK in June, cash handouts and other forms of assistance might be accessible.

This item is included in the Household Support Fund (HSF), which has been expanded to cover the summer months of September and beyond. Millions of pounds have been given to local councils so they can manage their own emergency finances and determine who needs assistance.

Support will be provided automatically in some places and require application in others. For certain households, it can entail cash payments going into bank accounts.

People can access the most recent information on what is going on in their area by visiting the ‘Household Support Fund’ section of the website of their local council. A lot of municipal governments have begun to release their HSF plans.

The West Midlands municipality, Walsall municipality, has stated that parents who obtain a reduction in council tax will begin receiving cash payments into their bank accounts at the end of July.

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Additionally, Sandwell Council has stated that some individuals would receive compensation, such as those who are in “financial difficulty,” are having trouble paying their council tax bills, and are caregivers. However, the council has not specified when the money will be sent.

Most persons will need to be receiving means-tested benefits or assistance such as reduced council tax in order to be eligible. Due to the expected level of demand, some local authorities have issued warnings that HSF funds are likely to run out quite shortly.

The Government stated in an update: “In the Spring Budget the Government announced it is providing an additional £500 million to enable the extension of the Household Support Fund, including funding for the Devolved Administrations through the Barnett formula to be spent at their discretion. This means that Local Authorities in England will receive an additional £421 million to support those in need locally through the Household Support Fund. The funding will be available to Local Authorities in England from April 1, 2024 and will run until September 30, 2024.”

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