Ministers are to re-examine the pensions triple lock and increasing benefits in line with inflation over the next fortnight, according to No 10, after Rishi Sunak delayed the announcement of the government’s fiscal plans from 31 October to 17 November.
The Treasury has said the new date will now be a full autumn statement, with Sunak telling his cabinet that time needed to be made to do things in the proper way.
The chancellor, Jeremy Hunt, said he had agreed the change of date with Sunak and that the statement would set out in detail plans to reduce debt and a medium-term plan to grow the economy.
Sunak said it was “important to reach the right decisions and there is time for those decisions to be confirmed with cabinet”.
But in exchanges after prime minister’s questions, Sunak’s spokesperson made no commitment to the triple lock on raising pensions, a Conservative manifesto pledge, or to uprating benefits in line with inflation, which Sunak committed to doing as chancellor.
Truss had previously committed to the triple lock – a guarantee that the state pension will rise every year by whichever is highest of inflation, earnings growth or 2.5% – after doubts were raised by Hunt about whether an inflation-linked rise would be possible. “That is something that is going to be wrapped up into the fiscal statement, we wouldn’t comment ahead of any fiscal statements or budgets,” she said. » | Jessica Elgot Deputy political editor | Wednesday, October 26, 2022
If we cannot afford the Triple Lock, then we certainly cannot afford to maintain a royal family with all the expense that the maintenance of a royal family entails. – © Mark Alexander
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