Government confirms triple lock will be restored and UK pensions set to soar

Government confirms triple lock will be restored and UK pensions set to soar. Content Foto by Colin Watts on Unsplash

According to The Times, public sector workers have been warned not to expect pay rises to match rocketing inflation, but the state pension could soar next year.

Today ministers today expressed concerns that awarding large pay boosts to public sector workers could risk worsening the current inflation crisis.

UK inflation, the rate at which prices rise, jumped to 9% in the 12 months to April, up from 7% in March.

The surge came as millions of people saw an unprecedented £700-a-year increase in energy costs last month.

Higher fuel and food prices, driven by the Ukraine war, are also pushing the cost of living up, with inflation expected to continue to rise this year.

The Bank of England is expecting the annual rate will get even worse, peaking at 10.25 per cent during the final quarter of this year.

According to the BBC, Citizens Advice said “the warning lights could not be flashing brighter” for the government to offer more support for households, and debt charities urged anyone finding it difficult to pay bills to seek help earlier rather than later in the year.

Dame Clare Moriarty, chief executive of Citizens Advice has said “There are desperate stories behind these figures. People washing in their kitchen sinks because they can’t afford a hot shower; parents skipping meals to feed their kids; disabled people who can’t afford to use vital equipment because of soaring energy bills.”

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Written by

Anna Ellis

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