**Article:**
Chancellor of the Exchequer Rachel Reeves has confirmed that a £150 cost of living payment will be provided to all eligible individuals across the UK. The payment is scheduled to begin distribution in July, aiming to help households manage rising expenses. This support is part of the government’s broader plan to address ongoing economic pressures faced by millions of people.
The payment will be made automatically to qualifying recipients, ensuring a streamlined process without the need for additional applications. This measure follows recent announcements targeting inflation and household budgets, reflecting the government’s commitment to easing financial strain.
The exact details of eligibility and payment methods will be communicated in the coming weeks, with the government emphasizing that the support is intended to reach everyone in need.
**Why this matters:**
With inflation continuing to impact household budgets, the £150 payment seeks to provide immediate financial relief to millions of people. By offering this support universally, the government aims to mitigate the effects of rising living costs and help maintain consumer spending, which is crucial for economic stability. This initiative also reflects ongoing efforts to balance public finances while addressing social and economic challenges.
Source: NewsData