Kwasi Kwarteng’s mini-budget on Friday has been tipped to see the return of the triple-lock pension.
Experts have warned that bringing the controversial policy back could see “the biggest increase in state pensions in decades”.
Professor Joe Nellis, Professor of Global Economy at Cranfield School of Management, told Express.co.uk that should the triple-lock be reintroduced, “the biggest increase in state pensions in decades” will be seen.
He said: “The mini-Budget is likely to confirm that the triple lock for pensions will be reintroduced, meaning that in April, state pensions will go up by around 10 percent – the biggest increase in state pensions in decades.
“Whilst this is good news for pensioners, the uplift will come after what’s set to be a tough winter with record high energy costs.
“This uplift could rile those in work. With the rate of pay expected to reach up to 8 percent in the private sector and 3 percent in the public sector, workers are losing out and we could see strikes continuing into 2023.”