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UK State Pensions may rise by £478 next year due to predicted 4% inflation, raising government costs.
The Bank of England predicts a 4% inflation rate in September, which could lead to a £478 increase in State Pensions next year under the triple lock rule.
This rule ensures pension increases by the highest of wage growth, inflation, or 2.5%.
However, this could raise government costs by £2.1 billion for 4.5 million recipients, potentially leading to tax increases to cover a £51 billion deficit in public finances.
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Las pensiones estatales del Reino Unido pueden aumentar en 478 libras esterlinas el próximo año debido a la inflación prevista del 4%, lo que elevará los costos del gobierno.