The government is under pressure to increase benefits by the rate of inflation (Image: Getty)The new Prime Minister has so far refused to guarantee the funding formula that would mean a 10.1 percent hike in state pensions next April as he works with Chancellor Jeremy Hunt to find around £50 billion in savings. The government is also under pressure to increase benefits by the rate of inflation.Cabinet Minister Michael Gove, who just weeks ago backed the move, refused to commit to the move on Sunday.He insisted Mr Sunak’s ‘whole instinct’ is to ‘seek to protect the vulnerable’ but warned of ‘very, very tough decisions ahead’.The Levelling Up Secretary repeatedly refused to rule out direct cash help for people who are struggling to pay their rent.He said it could ‘mean targeted support for all sorts of people who are in difficulty’.Former Conservative chancellor Philip Hammond has said he would be ‘very surprised’ if the Government does not uprate benefits in line with inflation in its upcoming fiscal statement.He said everyone will need to pay more taxes because government borrowing is now out of the question after the market turmoil of the last few weeks.He added: “Of course you can tax wealthy people a bit more but the reality of the fiscal challenge we face is that if we want public services not just to be maintained but to be improved… Everybody including ordinary earners are going to have to pay more tax.”The former chancellor also questioned Mr Gove’s claims about targeted support.Lord Hammond said: ‘I heard Michael Gove talking about targeted support for all sorts of people but I didn’t hear him say how it will be paid for. The option of borrowing is no longer on the table after the market tantrum last month.’Sign the petition organised by the Daily Express and Silver Voices at https://www.change.org/triple-lock-crusade
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Sourceexpress.co.uk
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