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Campaigners warned the pledge must be honoured in full amid claims the Chancellor is planning to pay out a lower rate in the autumn statement.<\/p>\n
Mr Hunt is expected to make tax cuts to get the economy \u201cfizzing\u201d when he delivers the financial update on Wednesday.<\/p>\n
But he was warned cutting taxes without meeting the 8.5 per cent state pension rise that is expected under the triple lock would anger older voters.<\/p>\n
Dennis Reed, director of Silver Voices, said there should not be any tax cuts while millions of older people are struggling with the cost of living crisis.<\/p>\n
He said: “The Government may think that they will get away with a technical downgrading of the Triple Lock but they underestimate the wrath of older people at their peril.<\/p>\n
\u201cWe have been ignored, threatened and provoked so many times in the last few years and the dam of anger is about to burst.
\u201cMany will judge that the Government can’t be bothered to safeguard the incomes of older people and is content for pensioner poverty to rise.<\/p>\n
\u201cNo Tory MP will be safe in their seat at the general election if the full triple lock increase is denied to older people, and this Government will never be forgiven for taking the Silver Vote for granted.\u201d<\/p>\n
Wage growth figures should mean a guaranteed 8.5 per cent increase in the state pension from April.<\/p>\n
READ MORE: <\/strong> Anything less than 8.5 per cent and Jeremy Hunt is killing off the triple lo…<\/strong><\/p>\n But the Chancellor has been looking at stripping out bonuses to reduce the figure to 7.8 per cent, which would leave recipients \u00a375 a year worse off than expected.<\/p>\n It would save the Treasury around \u00a3900 million next year.<\/p>\n Nearly 280,000 people have backed our crusade with Silver Voices for the triple lock to be honoured in full.<\/p>\n An 8.5 per cent rise in the full new state pension would take it from around \u00a3204 per week to \u00a3221.<\/p>\n A smaller rise of 7.8 per cent would instead take it from around \u00a3204 per week to around \u00a3220.<\/p>\n For the basic state pension it would rise to around \u00a3170 under the higher figure or \u00a3168 a week under the lower one.<\/p>\n Sir Steve Webb, partner at LCP said: \u201cIt would be deeply cynical to fiddle the figures when the formula comes up with the wrong answer.<\/p>\n \u201cThe whole point of having a rule is that you stick to it when it is difficult as well as when it is easy.<\/p>\n \u201cIt\u2019s not as though the state pension is a king\u2019s ransom. The triple lock was put in place to undo 30 years of damage.\u201d<\/p>\n Prime Minister Rishi Sunak will today give a speech on the state of the economy following official figures showing last week that he has met his pledge to halve inflation, which now stands at 4.6 per cent.<\/p>\n Mr Hunt has as much as an estimated \u00a320 billion room for manoeuvre in the autumn statement after improved public finances, compared to the \u00a36.5 billion forecast in spring.<\/p>\n He indicated tax cuts will be announced on Wednesday but suggested reviving the economy will be top priority.<\/p>\n Don’t miss… <\/strong> Mr Hunt said: \u201cI want to show people there\u2019s a path to lower taxes. But we also want to be honest with people, this is not going to happen overnight.<\/p>\n \u201cIt requires enormous discipline year in, year out.\u201d<\/p>\n The Chancellor said his \u201cpriority is backing British business\u201d and promising an \u201cautumn statement for growth\u201d.<\/p>\n \u201cI think it\u2019s important for a productive, dynamic, fizzing economy that you motivate people to do the work, to take the risks that we need,\u201d he said.<\/p>\n Mr Hunt said there is too much \u201cdefeatism\u201d about Britain and the country has \u201cturned a corner\u201d.<\/p>\n \u201cWe do recognise things are tough. We\u2019re not out of the woods yet,\u201d he added.<\/p>\n \u201cBut I think it is also the case, as we focus on growth, that there\u2019s too much negativity about the British economy.<\/p>\n \u201cThere is a sort of defeatism. Actually, when you look at it, there\u2019s a lot going for it.<\/p>\n \u201cOne example, the sector that is going to define all of us in the next 20 years, the technology sector, we have just become the third largest in the world after the United States and China. That is going to be a tremendous strength going forward for the UK.\u201d<\/p>\n
POLL – Should Jeremy Hunt protect triple lock on pensions in Autumn Statement[PERSONAL FINANCE ] <\/strong>
Triple lock storm as Hunt considers slashing next year\u2019s state pension hike[PERSONAL FINANCE ] <\/strong>
‘Stop being so defeatist’ Jeremy Hunt loses it on air with Sky News’ negativity[POLITICS ] <\/strong><\/p>\n\n