The Government has neglected to commit to keeping the triple lock pensions guarantee as Chancellor Jeremy Hunt is said to be preparing up to £60 billion in tax rises and spending cuts.
The 'triple lock' rule means the state pensions must rise each year in line with the highest of three possible figures, inflation, average earnings or 2.5%. But speaking on LBC, Cabinet minister Grant Shapps would not be drawn on whether he believes the triple pensions lock is a matter of Tory principle.
Previously, former Prime Minister Liz Truss was clear state pensions would increase in April by whichever is highest - 2.5%, wages or inflation. She said in BBC interview: "I've committed to the triple lock. Yes."
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But, after replacing Kwasi Kwarteng in the Treasury following their disastrous mini-budget, Downing Street backed down on this pledge. On Monday, Mr Shapps told LBC "it's very important that we look after pensioners" as the Government prepares its highly-anticipated autumn statement.
Asked if the pensions guarantee is a "matter of Tory principle", he said: "The Prime Minister and the Chancellor and myself, when it comes to things like the energy packages, have been working very closely on this package of measures which will come out in the autumn statement, which is on ... November 17. So, not very long to wait."
Pressed on whether he agrees it is a matter of principle, the Business Secretary said: "I agree it's very important that we look after pensioners - I do agree with that. I also think that everybody understands the situation that we're in and the Chancellor will come forward with that complete package.
"So, I don't want to pre-empt his package. And just so you don't think I'm being tricksy on this, I don't know what we'll say on that area. You'll have to wait and see."
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