Rishi Sunak has questioned the security of the pensions triple lock, facing backlash from his own Cabinet.
The Prime Minister has refused to clarify whether the assurance will be included in the party’s manifesto for the next election.
The triple-lock ensures that the state pension will be increased by at least the rate of inflation, wage growth, or 2.5 percent each year.
Sunak responded, “We’re not going to speculate on the election manifesto right now.”
“I’ve got plenty to get on with between now and then. But the triple lock is the Government’s policy and has been for a long time.”
Sunak also hinted that benefits will not increase in line with inflation.
Speaking in India at the G20 summit, the PM said: “Benefits this year have gone up by ten per cent, which is a huge amount, obviously.”
However, Justice Secretary Alex Chalk expressed his objection to the ideas, stating that the government “must do everything we can for the most disadvantaged,” adding, “That’s why we increased benefits by 10%.”
He stated that the government must be “decent, humane, and supportive of people.”
When asked if he would be uneasy if benefits were not increased in step with inflation, Chalk said, “You can take it as you like.”
He added: “There’s lots of different ways to get support to the people who need it.”
The Prime Minister said the ten per cent boost is worth £600 extra for a typical Universal Credit recipient and £800 for pensioners.
Chancellor Jeremy Hunt also signalled the Government may not be boosting benefits or pensions, saying the Government should not “pump extra money into people’s pockets”.
“When you’re trying to bring down inflation, you have to be really careful not to pump extra money into the economy, as much as you’d like to – not to pump extra money into people’s pockets,” he told Bloomberg.
“Because that could push up prices and keep inflation higher for longer.
“So the one thing I can absolutely say is that our focus at the Autumn Statement will be bringing down inflation”.