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Nadhim Zahawi has refused to commit to the pensions triple lock, amid growing fears of a U-turn on the issue. Around 12.5 million people who receive the state pension could face a real-terms cut in earnings if their payments do not rise in line with soaring inflation, which is currently at around 10 percent. The triple lock was suspended last year meaning pensioners received a 3.1 percent increase.
When asked about the policy on LBC, Mr Zahawi said: “I won’t pre-empt the autumn statement.”
He warned: “Rishi did say there will be some tough decisions, but he also recognises that we have to look after the most vulnerable and that is what he will always do.”
While former Prime Minister Liz Truss committed to keeping the triple lock in place, fears of a U-turn on the issue began to grow yesterday, after Mr Sunak refused to make the same commitment.
Speaking about the triple lock yesterday, the Prime Minister’s Press Secretary said: “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.
“But what I can say is he has shown through his record as chancellor is that he will do what’s right and compassionate for the most vulnerable.”
UPDATES TO FOLLOW…
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