Massive New £15BILLION Cost-Of-Living Bailout From The Chancellor

Rishi Sunak announced measures the afternoon (Thursday 26th May) to ease the rapidly increasing cost of living crisis which has hit so many people in the last months. This £15billion cost-of-living bailout will see every household receiving hundreds of pounds off their sky-rocketing bills. These measures include:

  • A permanent grant of £400 to take the edge off the misery of the spike in energy costs. This replaces the previously announced £200 per household state loan for energy bills – which was due to be paid back over the next four years
  • Eight million households on benefits will get a £650 handout, paid in two stages in July and Autumn – which will cost the Treasury £5billion.
  • Pensioners who get winter fuel allowance will get £300 extra. Disabled people will get £150. In addition, the triple lock will be applied to the state pension this year.

These measures will be partially paid for by a 25 per cent windfall tax is being imposed on the surging profits of oil and gas firms, to raise £5billion this year.

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