COST OF LIVING

Will there be extra cost of living payments in 2024?

Last modified on Tuesday 18 July 2023

money on table

The 2023 government payments are now well-underway, which means there's now calls for the DWP to announce extra payments for next year

The government has come under pressure to extend its cost of living payments into next year and it's been hinted an announcement on these payments could be made in the November budget.

The government has already committed to a £900 cost of living payment, paid in 3 instalments, with the first instalment of £301 already paid and the second expected in Autumn, and the third payment due in early 2024.

There has also been a £150 disability cost of living payment made to more than 6 million people, plus one-off payments for pensioners entitled to winter fuel support.

However, calls have now been made for extra payments to be made in 2024, to help people through the cost of living crisis.

'Further payments going to be needed'

Guy Opperman, Minister for Employment at the DWP, said the additional cash 'will be considered' and is likely to be announced in a few months' time.

He said the Autumn Statement from the Chancellor in November is expected to be the time when the Government's intentions or decisions will be shared.

It came after Sir Stephen Timms, who was previously pensions minister spoke in the Commons, saying further payments 'are going to be needed.

He questioned when a decision will be made about extending payments into 2024, and in response, Guy Opperman hinted that an announcement could be made in November.

Sir Stephen asked: 'When does he envisage making a decision about whether the cost-of-living payments will be continued for a further year? When this year is that decision likely to be made?'

'It's a fair point'

Mr Opperman replied: 'These things are way and monumentally above my pay grade and are decided – as I am sure he knows, having done my job and many other jobs in Government – by the Chancellor and the Prime Minister at some stage over the course of this coming year.

'It is a fair point though that these matters will be considered, and it is clearly above my pay grade and beyond my knowledge, but obviously there is an autumn statement in November which would be the clear time for decisions to be telegraphed, if not decisions made.'

Sir Stephen responded: 'To the minister, let me just say I am grateful to him for suggesting that perhaps the autumn statement is when we will hear about the plans for further cost-of-living payments.

'I think they are going to be needed.'

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