Revealed during the Spring Statement, the Household Support Fund has increased from £500 million to £1 billion.
Monetary support that will be distributed to local authorities throughout the UK - including Liverpool City Council.
Here is everything you need to know about the Household Support Fund.
What is the Household Support Fund?
Only announced in September 2021, the Household Support Fund aims to tackle a number of issues affecting struggling households in England.
The cost of living has risen exponentially over the past few months and has helped cripple many families across the country.
An issue so large that the government has issued a number of measures in an attempt to support those affected - for example, the £150 council tax rebate.
The Household Support Fund has been doubled from £500 million to £1 billion.
Sums of the fund will be distributed to councils across England - including Liverpool City Council.
The local authorities would then provide small grants for desperate families, helping to cover the cost of daily essentials such as clothing, utilities and food.
Out of the one billion pound fund, half will be reserved for struggling households with children, whilst £421 million will be allocated for the most vulnerable people in the local community.
The remaining £80 million is set to be given to devolved administrations.
Who is eligible for government support?
In order to qualify for the Household Support Fund, you must fit within certain criteria - but that varies from council to council.
Most local councils in England have ensured that those who are unable to support themselves or their dependents will be eligible for the scheme.
LiverpoolWorld has reached out to Liverpool City Council for more details about the exact criteria that residents will need to meet in order to benefit from the fund, but are awaiting a reply.
Visit the official Liverpool City Council website for more information and regular updates.
How do I apply for the Household Support Fund?
The Household Support Fund first distributed monetary support to local councils in October last year.
Government officials have insisted that anyone who feels they need to take advantage of the scheme should contact their local authority.
If you do not know what local council is nearest to you, enter your postcode on the government website and find out.
After contacting your local council, they should be able to allow struggling individuals and families to access the fund.
LiverpoolWorld is still awaiting comment from Liverpool City Council to shine light on how local residents can apply for the Household Support Fund.
What has the Office for Budget Responsibility (OBR) said?
Despite Rishi Sunak’s announcement, the OBR has said that the drop of living standards in the UK for 2022 will be the worst ever since records began in 1956.
“The public finances have emerged from the pandemic in better shape than expected,” said the OBR.
“But Russia’s invasion of Ukraine will push inflation to a 40-year high of almost 9%, and living standards are set for a historic fall over the next 12 months.”
The OBR added: “With inflation outpacing growth in nominal earnings and net taxes due to rise in April, real living standards are set to fall by 2.2% in 2022-23 – their largest financial year fall on record – and not recover their pre-pandemic level until 2024-25.”