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Budget Resolutions and Economic Situation

My right hon. Friend is, as usual, absolutely spot on. From next month, pensioners will see the largest ever increase in the basic state pension, because we have put in place the triple lock promised in our manifesto to ensure that never again will pensioners be awarded derisory increases of the sort that Labour brought us. Thanks to my hon. Friend the Pensions Minister, who is in his place, we will also be introducing, as the Chancellor announced, the single-tier pension at £140 or thereabouts a week, so that new pensioners will no longer be trapped in the means-testing system that Labour left them in for so long.