Chancellor defends cutting winter fuel payments for 10 million pensioners – London Business News | Londonlovesbusiness.com

The Chancellor has defended her move to cut the winter fuel payments for pensioners and said it is “tough” but also “right” after inheriting the mess left by the previous government.

Rachel Reeves told MPs in the House of Commons on Tuesday she is “determined” to ensure working people are “better off.”

The axing of the winter fuel payments will have a profound impact on around 10 million pensioners and will save the Treasury around £1.4 billion this winter.

Reeves stated the fuel price cap is now lower than last year and the state pension is £900 higher, this will help the elderly with the cost of fuel.

The Chancellor was asked about the Autumn Budget on 30 October, Reeves said, “I’m not going to speculate about what will be in the budget, but I’m absolutely determined to ensure that working people are better off under the last government.”

She told the Shadow Treasury Minister Nigel Huddleston, “This budget will be a budget to fix the foundations of the economy after the mess left by the previous government.”

The Chancellor also confirmed that corporation tax will not increase to allow “business confidence to grow.”