Government commits to reinstating triple lock in 2023

'Cost of living squeeze near-term'

clock • 4 min read
Rachel Reeves: "For all his words, it is clear that the chancellor does not understand the scale of the challenge."
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Rachel Reeves: "For all his words, it is clear that the chancellor does not understand the scale of the challenge."

The work and pensions secretary Therese Coffey has confirmed the government will recommit to the state pension triple lock for the rest of this Parliament after a pause in 2022.

This comes after the government temporarily moved to a ‘double lock' of the higher of price inflation or 2.5% - it excluded earnings growth - for the upcoming April 2022 increase, because of pandem...

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