The state pension will rise by “significantly” more than inflation next year while millions of Brits see a real-terms wage cut, the government has confirmed.
Downing Street repeated the pledge that the triple lock on pensions - which raises them by the highest of 2.5%, average wages or inflation - will return in April 2023.
And Chief Secretary to the Treasury Simon Clarke said in a written answer to Parliament that this was “likely to be significantly higher than the forecast inflation rate for 2023/24”.
