Sterling Little Moved After U.K. PM Burnham Speech
Dow Jones
Sep 29
1419 GMT - Sterling shows little reaction after U.K. Prime Minister Andy Burnham announced plans to reform pensions in a speech Tuesday, as widely expected. From 2030 the government will adjust the triple lock on pensions, which ensures state pensions rise in line with average earnings, inflation or 2.5%, whichever is highest. Instead pensions will rise every year in line with inflation, or 2.5%. Burnham scrapped the earnings element, saying state pensions would hold their value "relative to earnings over time." He also pledged to build a national care service, create a public body to invest in the electricity grid and strengthen control of water companies. Sterling falls 0.2% to $1.3222 and is flat at 0.8573 per euro, both little changed from levels before the speech.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.