Across the country, eight million homes will start to see the cost-of-living payments hit their bank accounts next month.

This is part of the Government’s package to help households cope amid soaring energy prices.

The second portion of the one-off payment will follow in autumn, as part of support worth £1200 that vulnerable households will receive this year. This also includes a previously announced £150 council tax rebate.

READ MORE: Thousands on Universal Credit will miss out on £650 cost of living payment

When will I get the cost of living payment and how much will I get?

The first instalment of the cost of living payment will begin to appear in bank accounts on July 14.

From that date, the first instalment of £326 will start to be paid out to low-income households on benefits, the Department for Work and Pensions has announced.

Work and Pensions Secretary Therese Coffey said: “With millions of the lowest-income households soon seeing the first of two cash instalments land into their bank accounts, we are taking action to directly help families with the cost of living.

“This one-off payment totalling £650 is part of our £37 billion cost-of-living support package that will put an extra £1,200 into the pockets of those most in need.”

Legislation to confirm the £650, as well as the other elements of the Government’s support package, is being laid on Wednesday, June 15.

Chancellor Rishi Sunak said: “We have a responsibility to protect those who are paying the highest price for rising inflation, and we are stepping up to help.

“In July, more than eight million people will get their first £326 payment to help with rising prices, as part of a package worth at least £1,200 for vulnerable families. I said we would stand by people when they needed help, and we are”.

Under the Government’s plan, pensioners will also receive a £300 payment in November/December alongside the winter fuel payment in a move costing £2.5 billion while £150 will be paid by September to individuals receiving disability benefits.

Every household in the country, regardless of how well off they are, will get a £400 discount on energy bills, raising concerns the move will further fuel inflation.

The Chancellor announced the emergency cost-of-living support package last month, saying £5 billion of the package would be paid for by a levy on the profits of oil and gas giants, and around £10 billion will be covered by extra borrowing.

A message from the Editor

Thank you for reading this article - we appreciate your support in reading the Daily Echo.

Subscribing to the Echo means you have unrestricted access to the latest news, features and Saints coverage - all with an advertising-light website.

You will also have full access to Saintsplus, your new home for Southampton FC tactical analysis, features and much, much more.

Don't take my word for it - subscribe here to see for yourself.

Follow the latest breaking news in the Southampton area by joining our Facebook group - Southampton News - Breaking News and Incidents

Follow the latest court and crime news on our dedicated Facebook group - Hampshire Court and Crime News