‘Savage spending cuts will soar to nearly £9billion a year, hitting pensioners hardest, a shock report reveals today.
The study shows PM David Cameron has broken his pre-election pledge to protect the elderly, with a quarter of welfare cuts falling on pensioner households.
The Tory-led Government’s biggest cut is a £3.8billion-a-year reduction in pension credit, which tops up weekly income to a guaranteed minimum.
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Other cuts include a £138million-a-year reduction in the value of attendance allowances – paid to those who look after relatives – and £340million off disability living allowances for OAPs.
A large chunk of the losses comes from switching the inflation measure used to set benefits each year from the Retail Prices Index to the lower Consumer Prices Index.
The cuts faced by pension households – single people or couples where at least one person is of pension age and where no adults work – will be worse after the next election.’
Read More: Pensioners hit hardest by £9BILLION welfare spending cuts as David Cameron breaks election promise