Government to cut pensions credit - papers 24th Nov

John Hutton’s comments came as it emerged that the Government is considering cutting the real value of the £109-a-week Pensions Credit, its flagship policy for helping poorer pensioners, says the paper. In a leaked letter to Lord Turner of Ecchinswell, chairman of the Pensions Commission, Gordon Brown said it would be wrong to assume that the current link between the pensions credit and earnings would continue beyond 2008. The comments would appear to suggest the Chancellor might in future peg the credit to prices, rather than earnings — a move that would cut its real value. The war...