New Chancellor Jeremy Hunt has hinted the triple lock on pensions could be on the table as he ripped up Liz Truss's tax-cutting plans.

Mr Hunt refused to commit that the state pension would rise in line with inflation in April as planned during a grilling by MPs over the Government dramatic economic U-turn.

The Tories committed to maintaining the so-called triple lock in the 2019 manifesto, which rules that the state pension must rise in light with whichever is highest - inflation, average earnings or 2.5%.

Former Chancellor Rishi Sunak suspended the pledge, partly due to distorted wage growth during the pandemic, but it was due to be reinstated in April.

Ms Truss vowed she would honour the triple lock commitment during this summer's Tory leadership race.

Liz Truss and Jeremy Hunt sat awkwardly in the Commons as he trashed her record (
Image:
PA)

The Chancellor was challenged over the commitment in the Commons in a two-hour statement on his plans to calm the economic turmoil which followed Ms Truss's calamitous mini-Budget.

Labour MP Emma Hardy asked: "Does the Chancellor agree with the Prime Minister who confirmed that the state pension would rise with inflation in April and if he does agree can he commit to it today?"

Mr Hunt replied: "I'm very aware of how many vulnerable pensioners there are and the importance of the triple lock.

"But as I said earlier, I'm not making any commitments on any individual policy areas, but every decision we take, will be taken through the prism of what matters most, to the most vulnerable."

The Chancellor has junked almost all of Ms Truss's tax cuts and curtailed her energy price guarantee, which will now run until April rather than for the planned two years.

He told MPs that the Government needed to make decisions of "eye-watering difficulty" to steady the ship after jittery markets panicked at Ms Truss's plans for £45bn in unfunded tax cuts.

The crisis-hit PM sat awkwardly beside him for 29 minutes as he trashed her record before fleeing the Commons.

His plans will claw back around £32bn but Mr Hunt made it clear more savings needed to be made.

He told MPs: "We are a country that funds our promises and pays our debts and when that is questioned - as it has been - this Government will take the difficult decisions necessary to ensure there is trust and confidence in our national finances.

"That means decisions of eye-watering difficulty."

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