Liz Truss leaves 10 Downing Street on her way to prime minister's questions. (Photo: Stefan Rousseau via PA Wire/PA Images)
Liz Truss has performed yet another U-turn by confirming that pension payments will go up by the rate of inflation after all.
The surprise move came after days in which ministers - including new chancellor Jeremy Hunt - refused to commit to the so-called “triple lock”.
Under the policy, which was a 2019 Tory election manifesto pledge, pensions must rise by either 2.5%, average earnings or inflation - whichever is greater.
Official data today confirmed that inflation rose by 10.1% in the 12 months to September.
Hunt has warned that billions of pounds worth of savings will need to be made for the government to balance the nation’s books.
But asked at prime minister’s questions if the triple lock will remain, Truss said: “We’ve been clear in our manifesto that we will maintain the triple lock and I’m completely committed to it – so is the chancellor.”
The PM’s announcement came after Tory MPs broke ranks last night to say they would not vote for the end of the triple lock on pensions.
Only yesterday, the prime minister’s official spokesman said he could not make “any commitments” on the pensions triple lock.
A day earlier, Hunt raised the possibility that it could be scrapped, telling the Commons he would not make any commitments on “individual policy areas”.
This article originally appeared on HuffPost UK and has been updated.