November 29, 2011 3:59 PM
Head and shoulders

The Lib Dem triple lock will see the greatest ever pension rise

Cheadle MP Mark Hunter has welcomed the Chancellor's Autumn Statement, which will see pensioners £275 a year better off, pre-school support to double the number of 2-year-olds, a Youth Contract to get youngsters into work and a £5bn investment plan to modernise UK infrastructure.

Delivering his Statement to the House of Commons, the Chancellor confirmed that the basic state pension would increase by £5.30 per week from April next year as a consequence of the pension triple-lock - a key Lib Dem commitment secured in the Coalition Agreement.

The Statement also saw announcements on tackling youth unemployment, reducing rail fare increases, and increasing the rate of the bank levy. The Government is taking steps to address fuel costs, by delaying the fuel duty increase and cancelling the inflation-related increase altogether.

Commenting, Mark said:

"This is the largest ever cash increase in the basic state pension, and it is thanks to the Liberal Democrats' pension triple-lock. Pensioners across the country will be £275 a year better off. This will be a real help to many of my constituents across the Cheadle area."

"I am also pleased with plans for a Youth Contract and the doubling in the number of 2-year-olds from the poorest backgrounds who will get free pre-school. Lower rail fare increases and help for motorists are also very welcome, as is greater support for small businesses, through extending the business rate holiday to April 2013 and lowering the cost of borrowing.

"The economic situation remains incredibly tough, but Liberal Democrats in Government are committed to fighting for fairness for those on low and middle incomes."

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