LIVE: Chancellor Rachel Reeves delivers the 2024 Budget statement
MILLIONS of people are set for a bumper rise of up to £473 to their state pension payments, it has been confirmed today.The Autumn Statement provides an update on the government’s plans for the economy.The amount pensioners get from the state rises every year in order to keep up with the cost of things like food and householdShe said: "Our manifesto committed to the triple lock... to ensure that our pensioners are protected in their retirement.
Helen Morrissey, head of retirement analysis, Hargreaves Lansdown, said: "Today’s news spells good news for pensioners who can look forward to a 4.1% increase in their state pension from next year. Older pensioners who retired before April 2016 will get a weekly rise from £169.48 to £176.45, and an annual rise from £8,812.96 to £9,175.61.Today is the first Labour budget for 14 years - and the first ever to be delivered by a female Chancellor.
The Lamont and Clarke budgets marked the end of the Tories's scything tax cuts - and set the stage for Labour's return to office in 1997.Brown raised national insurance by a penny on the pound to fund higher spending on the NHS.2009 - Alistair Darling, LabourDarling ramped up taxes and borrowing in a bid to fill up draining Treasury coffers.Kwarteng unveiled his economic package less than a month after becoming Liz Truss's Chancellor.
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