Surprise ‘triple lock’ U-turn announced as DUP signs deal with Conservatives

The Conservative party has scrapped a manifesto commitment to drop the State Pension ‘triple lock’, along with plans that would have seen the Winter Fuel Payment means-tested in the future. Announced earlier today, the news comes at the same time as a confidence and supply deal, with the Democratic Unionist Party (DUP). The DUP has agreed to back the Conservative Government on key votes. The ‘triple lock’ means the State Pension increases by whichever is the highest out of: The rate of inflation as measured by the Consumer Price Index (CPI) Average ...

Inflation hits a four year high of 2.9%

Good news and inflation haven’t shared an article for quite some time. Today is unfortunately no different. A bulletin, released by the Office for National Statistics (ONS), reveals that the rate of inflation as measured by the Consumer Price Index (CPI) has risen to 2.9%, the highest level in nearly four years. Relatively high inflation has been a recurring point of discussion since the start of the year, when it grew to 2.3% and showed no signs of slowing down. With a peak of 4.1% now predicted by the end of the ...

‘Triple lock’ – how what who why when?

‘Triple lock’. Triple-lock. Triple lock. “Triple lock?”. It’s a term that most are uncertain of the exact phrasing, so it’s not surprising that many aren’t totally sure what it is. For some, it’s got something to do with the basic State Pension, and for others it’s the best way to secure your bike to a railing. The ‘triple lock’ policy (which is how it will be written for our sanity and yours) has been a recurring point of discussion in the run up to the General Election. Opinions are split amongst the ...

The three groups that will be hit by the new inflation high

Inflation. It is enough to fill anybody with dread. Money only stretches so far, and it is even harder to stretch a pound when it is only worth 97.7 pence. Well, that is the reality after inflation was recently announced to have exceeded the Bank of England’s 2% target to a level of 2.3%. The Office for National Statistics released a bulletin on the 21st of March, revealing inflation to be much higher than previously thought. This news has come as a surprise to many, and will affect three ...