Treasury considers extending Household Support Fund

Published On Aug 27, 2024, 7:56 AM

The UK Treasury is considering extending the Household Support Fund, which helps support households facing cost of living pressures, particularly around fuel costs. This fund, initially set up during the COVID pandemic, has been beneficial for councils to provide small cash payments to vulnerable individuals. The extension comes amid criticism of the government's decision to cut winter fuel payments for pensioners. With the Labour government's focus on addressing economic hardship, the extension could potentially reflect a response to public concerns.

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The extension of the Household Support Fund suggests a commitment from the government to address rising cost-of-living pressures, which may support consumer spending in essential sectors such as utilities and food. Companies involved in household necessities and energy provision may benefit from this continued support for low-income households.

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