October 4th 2024.
As the cool and crisp air of autumn settles in, and with winter fast approaching, it's natural to feel concerned about the financial strain of the upcoming months. The cost of living crisis has taken its toll on many individuals and families, with essentials like food, energy, rent, and mortgage payments becoming increasingly difficult to afford. To make matters worse, the energy price cap is set to increase, and even the Prime Minister has acknowledged that the government's autumn budget will bring some painful changes.
If you're among the millions who are worried about managing your living costs in the coming months, and beyond, we've put together a guide to help you understand what benefits and support might be available to you. We'll also take a look at any potential changes to benefits that may be on the horizon.
So, what benefits can you expect to receive in October? Well, the good news is that the benefits paid out this month will remain the same as usual. These include Universal Credit, state pension, pension credit, child benefit, disability living allowance, personal independence payment, attendance allowance, carer's allowance, employment support allowance, income support, and jobseeker's allowance. For more information on these benefits, you can visit the government's website.
But what other forms of financial assistance are available? The Household Support Fund, which was set up by the Conservatives, has been extended for another six months until March 31st next year. This fund is distributed to local authorities to help those who are struggling with the cost of energy, water, and food. Each council has the freedom to allocate the funds as they see fit, with some offering cash grants and others providing supermarket vouchers or assistance with energy bills. To find out what help may be available to you, visit your local council's website.
The government also offers budgeting loans to individuals who have been receiving certain benefits for at least six months. These include income support, income-based jobseeker's allowance, income-related employment and support allowance, and pension credit. The loan is interest-free and can be used for things like furniture, household items, clothes, rent, moving costs, home improvements, funerals, and maternity expenses. The amount you can borrow depends on your circumstances, with the maximum being £812 for those with children. To learn more, visit the government's website.
If you're struggling to pay your council tax, you may be eligible for a reduction of up to 100% depending on your circumstances and the benefits you receive. To find out what reductions your council offers, you can search your postcode on the government's website. Additionally, some charities offer grants to those who are facing financial difficulties. However, these grants are limited and have certain eligibility criteria. The charity Turn2us has a helpful online tool to help you find grants that you may be eligible for.
In terms of energy providers, several companies offer support to those who are having trouble paying their bills. These include Scottish Power, E.ON, EDF, and Octopus. Contact your energy provider to see if they can provide any assistance. British Gas also offers a grant of up to £2,000 to customers of any energy provider. You can apply for this grant on the British Gas Energy Trust website, but you will need to meet certain criteria.
If you're a working parent, you may be entitled to up to 30 hours of free childcare for children aged three to four. From April 1st this year, 15 hours of free childcare were made available to working parents of two-year-olds, and from September 1st, this was extended to nine-month-olds. From September 2025, all working parents of children under five will be entitled to 30 hours of free childcare. Additionally, parents may also be eligible for tax-free childcare, which could save up to £500 every three months for each of their children. To check your eligibility and learn how to apply, visit the government's website.
Now, let's talk about the upcoming changes to the energy price cap. This is a limit set by Ofgem that determines the maximum amount energy suppliers can charge for each unit of energy. The cap is designed to ensure that prices are fair and reflect the wholesale cost paid by energy suppliers. However, Ofgem has announced that the cap will be increasing by 10% this month, meaning most households will see higher bills in the coming months. The cap had dropped to £1,568 in July, but it has now risen to £1,717.
All of these financial concerns bring us to the autumn budget, which will be delivered by Chancellor Rachel Reeves on October 30th. While it's unclear what exactly will be announced, the Chancellor has previously warned that difficult decisions need to be made in order to restore economic stability in the UK. The Prime Minister has also described the budget as "painful." The Labour party has accused the Conservative government of leaving a £22 billion black hole in the economy.
So, what changes to benefits could we see under the new government? It's likely that there will be some changes, although they will probably happen gradually over the next few years. Any planned changes will also need to go through consultation periods, which can take time. While there may be some cuts involved, it's not yet clear what they will be. At the Labour conference last month, Sir Keir Starmer stated that there would need to be trade-offs between maintaining the welfare state and supporting those in need. For example, the government is planning to address the increase in people receiving sickness benefits since the pandemic.
However, Labour has stated that they will not reverse the decision to cut winter fuel payments. Starmer has also said that people on long-term sickness benefits should be made to look for work if they are able to, in order to support more people in entering the workforce. The party also has plans to reform universal credit to make work more worthwhile and to combat poverty. Unfortunately, the government has not lifted the two-child benefit cap, which was put in place in 2015 and is said to be keeping almost a million children in poverty.
In conclusion, with autumn upon us and winter approaching, many individuals and families are feeling the strain of the cost of living crisis. While the government is expected to announce changes to benefits in the upcoming autumn budget, there are also various forms of financial assistance available to those who are struggling. It's essential to explore your options and see what support you may be eligible for.
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