IRRV Alert - week ending 27th May Part - 1
News
Cost of Living Support (26 May 2022)
Policy paper
Cost of Living Support
This is the Cost of Living Support package in full. You can find supporting and related documents below.
- From:
- HM Treasury
- Published
- 26 May 2022
- Last updated
- 26 May 2022 — See all updates
Documents
Energy Profits Levy – Technical Note
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Distributional Analysis
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Cost of living support factsheet: 26 May 2022
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Energy Profits Levy Factsheet - 26 May 2022
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Details
The Chancellor of the Exchequer delivered a Cost of Living Support package to Parliament on 26 May 2022. This is the statement in full and supporting documents.
Energy Profits Levy – Technical Note
On 26 May 2022 the Chancellor announced a new tax on the profits of oil and gas companies operating in the UK and the UK Continental Shelf. This note sets out when the tax will apply from, how it will operate and next steps.
Distributional analysis
This document sets out the estimated impacts of the May 2022 Cost of Living Support package and February 2022 Energy Support package which have a direct, quantifiable impact on households.
Cost of Living Support factsheet
This factsheet outlines the extra £15 billion of support with the cost of living which the Chancellor made available from 26 May 2022.
Energy profits levy factsheet
This factsheet outlines the details of the Energy Profits Levy, a new surcharge on the extraordinary profits which oil and gas companies are making, which will help to fund the Cost of Living Intervention.
Published 26 May 2022
Last updated 26 May 2022 + show all updates