Jenny Willott, the Liberal Democrat MP for Cardiff Central, has welcomed the announcement in the Chancellor’s Autumn Statement that the Basic State Pension will rise by the full amount of inflation.
The move means that next year around 10,300 pensioners in Cardiff Central will see their Basic State Pension increase by 5.2% at a total cost of over £2.8 million.
The announcement ends speculation that the Chancellor was planning to increase pensions by less than inflation, a suggestion which was opposed by the Liberal Democrats.
Commenting, Jenny, who is also co-chair of the Lib Dem Parliamentary Party Committee on Work and Pensions, said:
“I am delighted that pensioners will see the full increase in their Basic State Pension. This will be an important boost for pensioners in Cardiff and across Wales.
“At a time when everyone is facing a squeeze on their living costs it is important that we ensure that the Basic State Pension keeps track with the costs faced by pensioners.
“In Government the Lib Dems have ensured, through the ‘Triple Lock’, that the Basic State Pension will always rise by the highest of prices, earnings or 2.5%. This announcement shows the Triple Lock in action.”
