Against a backdrop of rising inflation, the government needs to find ways to plug a black hole in its funding - and benefits and pensions could be the casualties.
The September inflation figure has implications for other areas too, including benefits and pensions.If the government decides to uprate benefits by inflation, this is the percentage they will be increased by, and will come into effect from next April.The triple-lock means pensions will rise by either average earnings, CPI inflation based on September's rate, or 2.5% - whichever is highest.
However, on Tuesday, Downing Street indicated ministers could ditch their commitment to the triple lock as Mr Hunt finds ways to claw back funds. In an emergency statement, the chancellor said a 1p cut to income tax will be delayed"indefinitely" until the UK's finances improve, instead of being introduced in April 2023 as previously announced.
As the economic fallout continues, a new survey has showed confidence among British businesses has dropped.
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