00:00On July the 29th I set out a series of measures that we were taking to close
00:03that gap which added up to five and a half billion pounds. One and a half
00:07billion of pounds of that came from restricting pension winter fuel payments
00:12so that only pensioners on pension credit get it. But at the same time as
00:15making that restriction we've redoubled our commitment to the triple lock so
00:20that pensions continue to rise in line with earnings inflation or two and a
00:24half percent. That means during the course of this Parliament the pension
00:29the new state pension will rise by around 1,700 pounds and is 900 pounds
00:34higher this year than it was last year three times greater than winter fuel
00:40payments. So in the circumstances we faced we think this is the right
00:44decision but it was a hard decision and I understand why many people are
00:48disappointed by it.
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