Pensions and benefits are expected to rise in line with inflation next year, a cabinet minister hinted today.
It comes as the government is poised to protect the most vulnerable at the Autumn Statement later this month.
Increasing both pensions and welfare payments in line with inflation would cost the Government an estimated £11billion in 2023/24.
Mel Stride, the Work and Pensions Secretary, signalled that will be the case this morning as he said “pensioners are absolutely at the forefront of the group that we want to really protect as much as we can through these difficult times”.
Rishi Sunak and Jeremy Hunt are expected to announce that both pensions and benefits will increase in line with inflation when they deliver the statement on November 17, according to the Telegraph.