Labour budget: pensioner's benefits to be protected

The budget will be announced in Parliament next Wednesday. Rachel Reeves, the Chancellor of the Exchequer, is expected to ensure older people continue receiving

Labour has had a tough time recently, after a controversial move to axe winter fuel payments for millions of pensioners. Now, Sir Keir Starmer is trying to quell their anger, as he is expected to protect other benefits during the budget.

The budget will be announced in Parliament next Wednesday, with Chancellor of the Exchequer Rachel Reeves expected to ensure that older people continue receiving free prescriptions and bus travel amid concerns that scrapping these could form part of Labour’s plan to bridge the Treasury deficit.

MPs, campaigners and pensioners have demanded that the government reverse their decision on the winter fuel payment, which is estimated to affect around 10 million pensioners. Reeves will announce her budget in parliament next Wednesday.

The PM said the budget will “define the way we approach the economy.”

Sir Keir told reporters on the way to a Commonwealth summit in Samoa, “I’m not going to pre-empt that but we do want to make sure that pensioners are properly protected, of course we do.” He also said the budget next week will be “the party’s first opportunity to define the way in which we approach the economy.”

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The investment summit and pledges of investment made

Talking about the investment summit held last week, Starmer said he was “confident that the UK would see more businesses invest beyond the £63 billion pledged at last week’s investment summit.” He continued: there was “no reason” for entrepreneurs to leave the country because of the Budget.

He said: “My evidence that what we are saying is attractive to investors is last Monday’s investment summit that was hugely successful. All the feedback back to us has been that it was very well received by a significant number of global investors. At that summit by the end of close of the day £63billion had come in in agreements for people with investment. That to me is clear evidence that these investors have confidence in what we are doing.”

Rachel Reeve’s budget will be “unashamedly pro-business.”

A spokesperson for the PM said that Rachel Reeve’s budget would be “unashamedly pro-business,” and “Fixing the foundation means actually being absolutely clear about scrubbing this and making sure we’re onto a very, very stable footing.” When the Prime Minister was pressed by journalists on his definition of ‘working people’ he replied: “I have in mind people who go out earn their living, may have some savings, but don’t have the ability to sort of routinely write a big check if they get into difficulties. They’re the people uppermost in my mind when we’re making our decisions.”

Next Wednesday’s budget announcements will be the first time a labour government has had this responsibility in 15 years and it will remain to be seen if it will be good enough to improve the UK’s economy as Labour are so adamant they can do.