State pension triple lock rise could cost UK extra £3bn a year

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Retired people in the UK could see a bumper rise in the state pension next year, according to official forecasters. Predictions suggest that the link with earnings growth could mean an 8% rise in the amount paid from April 2022. That would cost the UK government £3bn more than previously expected, according to the Office for Budget Responsibility. Will the UK government stick to its manifesto pledge and pay up, whatever the political and financial hit? Newsnight’s political editor Nick Watt and economics editor Ben Chu report. Emily Maitlis is joined by former work and pensions secretary David Gauke, NUS president Larissa Kennedy and the TUC’s Kate Bell.

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