Downing Street has confirmed the state pension will be rising by double figures to protect pensioners from inflation. Ministers have pledged that the triple lock on pensions will return in April 2023, this raises them by the highest of 2.5% average wages or inflation.
The PM's spokesperson confirmed that he agreed with Chief Secretary to the Treasury, Simon Clarke, who said that raising the public sector pay by 9% or 10% would not be sustainable. This could mean a real-terms pay cut for millions of workers, risking a Summer of Discontent as strikes continue to spread.
“But you will have heard Simon Clarke yesterday talk about the importance of not feeding into inflationary pressures, and that point was emphasised by the Chancellor again today. And the Prime Minister does very much agree with that.”
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