Can Rachel Reeves survive the UK state pension time bomb?

The Bank of England has said inflation will be higher than expected in September – and that could leave Chancellor Rachel Reeves in limbo at this year’s Autumn Budget. At the Bank of England's interest rates decision on Thursday, economists upgraded an inflation forecast for September to four per cent. This is absolutely crucial for Rachel Reeves. Price data for September are used to calculate increases in benefits and the state pension, and the triple lock means that whatever is highest out of inflation or wage growth will represent the increase kicking into effect in April. If inflation does hit four per cent, the annual state pension will rise by at least £460 for most pensioners, which could cost the Treasury billions of pounds more. Click the related video link below to watch the full video on this story ▶️ #uk #news #economy #economics #finance #personalfinance #tax #money #interestrates #pension #benefits #inflation #business #bank #banking #bankofengland #politics #rachelreeves #autumnbudget