UK's pension pledge faces £4 billion hurdle, vaccinations of under-18s also loom
The Telegraph came out with the headlines suggesting further hardships for UK Chancellor Rishi Sunak in keeping the Tories’ triple-lock pension pledge.
The analytical piece highlights the recent jump in wage data posing an extra £4 billion burden onto the British government’s strings if they are to keep their pension pledge.
The reason could be traced to UK PM Boris Johnson-led government’s vow to offer the annual rise in pensions by the highest out of average earnings growth, inflation or 2.5%.
On a different page, The Telegraph quotes the UK’s joint committee on vaccination and immunization while citing fears of further delay into the vaccinations of under 18s.
Market reaction…
GBP/USD pays a little heed to the news suggesting further hardships, wavers around 1.4080 by the press time, as markets await the US Federal Open Market Committee (FOMC) meeting results.
Read: GBP/USD Price Analysis: Bulls target breakout to old hourly support