Jeremy Hunt poised to overhaul pensions triple lock as Treasury scrambles for cash
The TelegraphThe Chancellor and Mel Stride, the Secretary for Work and Pensions, are expected to choose regular pay, which rose 7.8pc, instead of total pay to calculate the triple lock, cutting out the effect of these bonuses. At the same time the latest inflation data suggests shops, pubs and restaurants in England will face a quadrupling of their tax bills next year, with an increase of almost £2bn. Speaking at the IMF meeting in Marrakech last week, he said: “You’ll have to wait for our decision in the Autumn Statement, but I think we saw last year that in very difficult times we are committed to making sure that we fulfil our responsibilities to people on the lowest incomes.” The Prime Minister’s spokesman refused to confirm benefits would rise by 6.7pc, as Mr Stride “has to conduct this annual review of benefits and state pensions” and Number 10 would not “get ahead of that”. As is the usual process, the Secretary of State will conduct his statutory annual review of benefits and State Pensions using the most recent data available.”
History of this topic
Rachel Reeves needs to raise billions and pensioners fear they are the target
The Telegraph
What is the triple lock plus – and what could it mean for pensions?
The Independent
Government should reform ‘costly’ triple lock to free up money, OECD says
The Independent
What the papers say – September 13
The Independent
Government urged to announce decision soon on triple lock
The Independent
Rishi Sunak mulls suspending triple lock on state pensions
The Telegraph
Rishi Sunak suggests he could SCRAP pensions 'triple lock'
Daily Mail
Surging cost of pensions triple lock piles more pressure on Chancellor
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