Article 6QJ1J Reeves can loosen Britain’s purse strings: she just needs to think outside the Treasury box | Philip Inman

Reeves can loosen Britain’s purse strings: she just needs to think outside the Treasury box | Philip Inman

by
Phillip Inman Economics editor
from on (#6QJ1J)

The chancellor claims she needs to shave pennies from all departments, but there are better options for dealing with the 22bn funding hole

Pressure is building on Rachel Reeves to prevent some of the UK's poorest pensioners being hit by restrictions on the winter fuel allowance. A plan to scrap the subsidy for all but those who claim pension credit, saving the exchequer 1.4bn, is under attack from opposition parties, trade unions and many inside Labour's ranks.

So far, the chancellor has resisted calls to reinstate the allowance of up to 300 a year - or even to make more of an effort to ensure only the richest pensioners lose the payment, implying that she needs all the savings to help close a 22bn gap.

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