Autumn Statement: Charity urges the chancellor to reinstate the triple lock and raise benefits in line with inflation
Ahead of the autumn statement, Age Cymru is calling on the Westminster Government to reinstate the triple lock from next April and commit to raising the value of benefits, including Pension Credit, in line with inflation. The charity says the triple lock was originally designed to protect the state pension against rising inflation – currently running at around 10%.
Older people across Wales are telling us they are worried about how they are going to afford to heat their homes and put food on the table in the coming months, let alone socialise with family and friends. Many are skipping meals, switching off lights, and keeping the heating off. Some have even told us they are turning off medical support equipment to save on their energy bills.
The current cost-of-living crisis is hitting older people especially hard because they tend to live on low fixed incomes. They also spend a larger proportion of their money on non-luxury items such as heating and food – both of which have skyrocketed in price. Many have also said they feel let down by the Government’s announcement to cut universal energy support after six months instead of the two years previously promised.