UK's Pension Triple Lock to Cost Three Times More

State pension warning as triple lock to cost 3 times more than predicted

The government's official forecaster predicts the annual cost to taxpayers will increase to £15.5billion a year.

End of state pension triple lock in sight as UK faces running out of cash

The UK’s finances are on an “unsustainable” track and the country “cannot afford” the spending promises which have been made to the public, the Office for Budget Responsibility (OBR) has said.Economists said a stark forecast by the watchdog predicting a tripling in the national debt in the coming decades made reform of the state pension triple lock all but inevitable.In a report spelling out the “fiscal risks” facing the UK, the OBR pointed out …

'Reckless' Rachel Reeves handed 'horror show' report card as OBR condemns Labour U-turns

Rachel Reeves has been handed a "horror show" report card by the Office for Budget Responsibility, which has warned that Labour's string of U-turns has left Britain's finances in a "vulnerable position".The OBR's fiscal risks and sustainability report this morning explicitly calls out the Government's benefits climbdown and defence spending hike for "creating new pressures on the public finances".Elsewhere, it projects that debt will rise to a s…

OBR says pension triple lock to cost three times initial estimate

The official forecaster warns public finances are in a "relatively vulnerable position" due U-turns.

OBR report highlights the unsustainable burden the triple lock will place on taxpayers

UK cannot afford triple lock pension, OBR says

The UK government cannot afford to keep the triple lock pension, the Office for Budget Responsibility (OBR) has warned.  Chancellor Rachel Reeves has faced staunch opposition from within her own party and seemingly from the wider electorate over cuts to welfare spending as she bids to meet fiscal rules that prevent high borrowing from further damaging the public finances. But the OBR has warned that spending on the triple lock has surged by as m…