State pension set to increase 7% in 2024 as No 10 pledges to honour the triple lock

The Government is set to promise pensioners will get a 7 per cent income boost next year as a result of stubbornly high inflation, i understands.

Official statistics published on Wednesday are forecast by the Bank England to show that inflation has fallen from 7.9 per cent to 6.8 per cent.

Labour also backs continuing the triple lock. A party source said: “We’re supportive of the triple lock and think the Government should maintain it. We’re calling on the Government to provide clarity, they are the ones who have put it in jeopardy.”

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