Chancellor Rishi Sunak is facing mounting pressure to suspend the triple lock system for next year ahead of unprecedented increases for State Pensions. Wage statistics have shown if the triple lock system dictated the increase for State Pensions in 2022, they would rise by a staggering eight percent.
Pensioners are expecting a weekly increase of up to £14 a week, equivalent to more than £700 a year, because the pandemic has skewed the figures used to calculate the rise. It would leave the Treasury scrabbling to find at least £3billion more than it had budgeted for. Downing Street said the Government had to […]