Chancellor made a promise about the pledge which some had speculated could fall victim to cuts
Chancellor Rachel Reeves has spoken out about speculation that the 'triple lock' pensions pledge could fall victim to cuts in the Budget next month. With the government saying it needs to fill a £22 billion hole in the public finances, some have suggested it is unsustainable.
She said that the campaign to encourage take-up of pension credit, which means people become eligible for the winter fuel payment, meant “we’re now seeing applications at more than 10,000 a week, they were around 3,000 a week previously”. She told Times Radio: “There’s not going to be austerity under Labour. “Not only did it do huge damage to our public services, but it also did huge damage to our economy, because it choked off the investment that is needed to grow the economy.
“I want them here in Britain, there’s a global race on for some of the jobs and industries of the future, whether it’s in life sciences, low carbon energy or tech.” There were “loads of reasons to be optimistic” but “investment doesn’t come by chance”, Ms Reeves said.
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