The Independent, on UK Politics, 30 October 2026

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UK Budget: What John Healey's announcement means for pensioners

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Become an Independent member to bookmark this article Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Membership today. Join today Already a member? Log in UK Budget: What John Healey's announcement means for pensioners Albert Toth Friday 30 October 2026 08:17 GMT Bookmark popover Removed from bookmarks Close popover Related: Healey jeered as he pays tribute to Rachel Reeves Andy Burnham 's government has presented its first Budget , with Chancellor John Healey outlining the proposals shortly after PMQs on Wednesday.

Mr Healey said he is “delivering the new pension tax allowance”, meaning “pensioners with income up to the value of the full new state pension will not pay income tax in this parliament.” The state pension is set to rise 3.9 per cent from April, bringing the yearly total to £13,036, which is above the current income tax personal allowance threshold of £12,570. Rachel Reeves, the former chancellor, previously committed to ensuring no pensioner with the state pension as their sole income would pay income tax on the payment.

Mr Healey also talked about previously announced plans to adjust the state pension Triple Lock by 2030. He said the changes would still see the pension keep pace with earnings and inflation and save £15bn per year by the end of the 2030s and £50bn by 2050. In full What the Budget will mean for pensioners and income tax

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About this analysis

The Independent reports the Chancellor's Budget announcement of a new pension tax allowance, the 3.9 per cent state pension rise and planned changes to the Triple Lock. It attributes the Chancellor's claims to him and sets the pension figure against the income tax threshold. Nothing in it misleads the reader.

What it gets right

  • “He said the changes would still see the pension keep pace with earnings and inflation”

    The article attributes the savings and the promise about the Triple Lock to the Chancellor rather than stating them as settled fact in its own voice.

  • “bringing the yearly total to £13,036, which is above the current income tax personal allowance threshold of £12,570”

    The article gives both figures side by side, so readers can see for themselves why the new allowance matters.

  • “Rachel Reeves, the former chancellor, previously committed to ensuring no pensioner with the state pension as their sole income would pay income tax”

    The article tells readers the pledge was made before, so they do not take it as an entirely new policy.

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