NADHIM Zahawi has dropped a major hint today that the pension triple lock might STAY, despite Rishi Sunak not making any promises.
The new Conservative Party Chairman told Sky News this morning he understands pensioners are “uniquely unable to work”.
Nadhim Zahawi dropped a hint that the pension triple lock will STAY this morning
But the minister added he “can’t pre-empt” any of the measures coming up in the Autumn Budget.
The popular triple lock sees pension payments increase in line with whichever of the following is highest:
- Earnings – the average percentage growth in wages in Great Britain
- Prices – the rising cost of living in the UK, as measured by the Consumer Prices Index (CPI)
- 2.5%
Yesterday, Chancellor Jeremy Hunt made a bombshell announcement that the government’s Halloween mini budget will be delayed until November 17.
It will also be transformed into a full fat plan to plug a £35bn black hole in public finances.
A report by the Resolution Foundation think tank today claimed the two-week delay could actually shrink the public finance gap by £10 to £15billion.
This is because interest rates on government gilts are falling and so is the global cost of energy.
In turn, this might mean less cuts to vital public services like the NHS are needed, and any possible plans for new taxes could be watered down.
The Autumn budget will also include important announcements on benefits and pensions.
Hard-up Brits will finally be told whether benefits will rise in line with inflation next April.
Meanwhile, pensioners will be able to know whether they could lose out on cash if the triple lock is ditched.
This morning Mr Zahawi dropped a major hint suggesting that won’t happen.
He told Sky News: “What I would say to pensioners watching this morning is both the Prime Minister and the Chancellor are very much aware, and I am going to state the obvious here, pensioners are uniquely unable to work to add to their income, improve their income.”
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