Reinstating state pension triple lock in doubt as Hunt ‘needs to find the fees’

Reinstating state pension triple lock in doubt as Hunt ‘needs to find the fees’

“We will have to wait. I think there are a lot of decisions coming down the line, not just the triple lock or the upgrading of benefits, but other decisions around public spending and tax rises, which I think will be an inevitable element within the fiscal statement.

“What we have to understand is that there is a purpose to taking these difficult decisions and that purpose is that if we can show that we can balance the books and be fiscally responsible, then we can soften bond yields, we can take down or lower the pressure on interest rate rises and reduce the debt servicing costs on the national debt.”

During the briefing, Mr Etherington also warned that Chancellor Jeremy Hunt will likely freeze allowances and thresholds, including with regard to pensions.

He said: “Expect the Chancellor to enter into a supermarket sweep of freezing any and every tax allowance and threshold he can lay his hands on.

Published at Fri, 11 Nov 2022 09:00:00 +0000