What's happened
The UK state pension has increased by 8.5%, following the triple lock guarantee. Additionally, the high income child benefit charge threshold has been raised, and National Insurance contributions for employees have been reduced.
Why it matters
The 8.5% increase in the state pension will provide financial relief to pensioners, while the adjustments to the child benefit charge and National Insurance contributions will impact families and employees positively.
What the papers say
The Guardian emphasizes the substantial increase in state pension and universal credit, while The Independent focuses on the impact of the state pension rise and the changes to National Insurance contributions.
How we got here
The state pension increase is part of the triple lock guarantee, ensuring it rises in line with inflation, wages, or 2.5%. The adjustments to the child benefit charge and National Insurance contributions aim to ease financial burdens on families and employees.
Common question
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