Jim Dickson
Main Page: Jim Dickson (Labour - Dartford)Department Debates - View all Jim Dickson's debates with the HM Treasury
(2 months, 2 weeks ago)
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Rachel Reeves
My hon. Friend is absolutely right to remind us of the dire inheritance that this Government face. The previous Government made spending commitment after spending commitment with absolutely no idea of how to pay for them. From road and rail projects to A-levels and the Rwanda deal, we saw £22 billion of unfunded commitments. We will fix the foundations of the economy, rebuild Britain and ensure that working people are better off. We will fix the mess that the last Government left.
Jim Dickson (Dartford) (Lab)
Will the Chancellor confirm that a state pension increase will be announced at the Budget and that it will be equivalent to wage growth, inflation or 2.5%—whichever is higher?
Rachel Reeves
The Government have committed to the triple lock not just for this year, but for the duration of this Parliament. That means that pensioners are £900 better off than they were a year ago. Based on September earnings and inflation data, we will uprate pensions next year by whichever is higher: 2.5%, inflation or average earnings. We are ensuring that pensioners get the pensions that they are entitled to and have contributed to.