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News & Blog

More than £1,000 of help for Scotland’s most vulnerable households

Posted: 26th May 2022

The UK Government is introducing new measures to help with the rising cost of living in Scotland and UK-wide, targeted at those who need it most.

Announcements today include:

• The most vulnerable households across Scotland will receive support of over £1,000 this year, including a new one-off £650 cost of living payment.
• Universal support increases to £400 across Great Britain, as the October discount on energy bills is doubled and the requirement to repay it over 5 years scrapped.
• This new £15 billion support package is targeted towards millions of low-income households and brings the total cost of living support to £37 billion.
• New temporary Energy Profits Levy on oil and gas firms will raise around £5 billion over the next year to help with cost of living, with a new investment allowance to encourage firms to invest in oil and gas extraction in Scotland and the UK.

More details can be found in HMT’s press release here and factsheets below:

Cost of living

Energy Profits Levy

Business Comment

Business Comment is the Edinburgh Chamber of Commerce’s bi-monthly magazine. It provides insight on Edinburgh’s vibrant business community, with features on the city’s key sectors, interviews with leading figures and news on new business developments in the capital.
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