The Basic State Pension looks set to be raised by £2.15 per week with effect April 2004.
The Government also added that the Pension Credit will increase in line with earnings rather than inflation - £3 for a single pensioner and £5 for couples.
Our view
Big wow! The Chancellor will still massively overtax people on Inheritance Tax. He has not increased the inhetitance tax nil rate threshold in line with how much house prices have gone up - meaning that he gives you a little in pension - and takes even more off you when you die!