Yet Another Liz Truss U-Turn As She Insists Pensions Will Rise By Inflation

Liz Truss has performed yet another U-turn by confirming that pension payments will go up by the rate of inflation after all.

The surprise move came after days in which ministers – including new chancellor Jeremy Hunt – refused to commit to the so-called “triple lock”.

Under the policy, which was a 2019 Tory election manifesto pledge, pensions must rise by either 2.5%, average earnings or inflation – whichever is greater.

Official data today confirmed that inflation rose by 10.1% in the 12 months to September.

Hunt has warned that billions of pounds worth of savings will need to be made for the government to balance the nation’s books.

But asked at prime minister’s questions if the triple lock will remain, Truss said: “We’ve been clear in our manifesto that we will maintain the triple lock and I’m completely committed to it – so is the chancellor.”

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