Rishi Sunak announces £15bn support package for cost of living crisis

Rishi Sunak has announced a £15 billion support package for households struggling with the cost-of-living crisis.

In a major U-turn, the chancellor confirmed a £5bn temporary windfall tax on oil and gas companies to help fund the measures.

Mr Sunak said that almost all of the worst-off households in the UK will benefit to the tune of £1,200, including a £650 cost-of-living payment for the poorest, a one-off £300 payment to pensioner households and £150 each to disabled people.

All households will also benefit from the £200 energy bill loan being converted into a £400 grant.

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