In full: Jeremy Hunt delivers 2023 Autumn Statement

Jeremy Hunt has confirmed that the state pension will rise in line with wage growth next year as he honoured his party’s commitment to the triple lock.

The Chancellor said that from April, the Treasury will increase the full new state pension by 8.5pc to £221.20 a week, worth up to £900 more a year.

He said: “That is one of the largest ever cash increases to the state pension – showing a Conservative government will always back our pensioners.”

The Chancellor also confirmed the Government will meet its fiscal rule on borrowing, by bringing it below 3pc of gross domestic product (GDP).

It will fall from 4.5pc of GDP this financial year, to 3pc from 2024-25, then 2.7pc, 2.3pc, 1.6pc and 1.1pc in 2028-29, according to forecasts by the Office for Budget Responsibility.

Read the full story here: https://www.telegraph.co.uk/money/tax...

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