Reeves increases basic and state pension by 4.8%

ODN

Chancellor Rachel Reeves says she is increasing the basic and state pension by 4.8%, "in line with our commitment to the triple lock". Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

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00:00I know that people still face pressure on their budgets day-to-day and week-to-week.

00:04And where there is more to do where we can provide relief, we are doing it.

00:09Extending the bus fare cap, cracking down on rip-off price hikes,

00:14freezing prescription charges and freezing rail fares for the first time in 30 years.

00:22I am increasing the basic and new state pension by 4.8 per cent,

00:27an increase of £440 per year for the basic state pension

00:32and an increase of £575 per year for the new state pension,

00:38in line with our commitment to the triple lock.

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