Rachel Reeves announced the full restoration of winter fuel payments for pensioners earning £35,000 or less, following substantial public backlash against previous cuts. This decision affects 7.5 million pensioners in England and Wales who missed out last year. While the new threshold is set to balance support for low-income pensioners and fairness to taxpayers, concerns about funding persist, as the changes will cost approximately £1.25 billion. Reeves aims for targeted support without reinstating the payment indiscriminately to wealthier individuals, continuing a complex policy to address financial challenges.
"The decision means that about 7.5 million pensioners in England and Wales who missed out on the payment of up to 300 last year will now get it."
"Reeves is expected to set out how she intends to fund the change which will cost about 1.25bn at the autumn budget, which is likely to lead to accusations that she is effectively making an unfunded pledge."
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