By Jimmy Rice, Money blog editor
The most notable news in Money this week was Labour’s cut to the winter fuel allowance being voted through by MPs, albeit with 52 Labour MPs abstaining.
The payment of up to £300 had been universal to those aged 66 and over, with 11.4 million in receipt last winter.
Now only those on certain means-tested benefits will get it – some 1.5 million.
It is estimate the change will save the Treasury £1.5bn a year – but it’s not clear what price the government has paid in good will.
Political editor Beth Rigby described “disquiet” on the Labour benches and summarised it as “the first big challenge to Keir Starmer’s authority”.
If you’re confused about who is now eligible for the winter fuel payment, we explain all here…
In related news, it is now likely there will be a 4% uplift in the state pension in April – equating to approximately £8.85 extra a week or £460 a year.
The triple lock commits the government to increasing pensions every April by whichever is highest – inflation (the figure for September, published in October), average wage growth between May and July (4%, as published on Tuesday) or 2.5%.
Another significant moment in the Commons this week came on Thursday, when the Renters’ Reform Bill returned, five years and four prime ministers after it was first promised.
This time it’s Labour’s version – with the new government vowing to improve and complete the set of proposals to strengthen renters’…
