Experts warn that the state pension’s triple lock may become financially unsustainable, with forecasts suggesting it could cost around £15.5bn by 2030 and potentially force the Government to consider higher taxes or reforms to maintain fiscal balance.

Following a backbench rebellion that forced a U-turn on planned welfare measures, official figures reveal that 50,000 children and 50,000 adults will now be lifted out of poverty, with the Chancellor warning that new taxes may be needed to cover the shortfall in public finances.

Labour has unveiled a plan to expand reservoir capacity and upgrade water infrastructure, warning that without swift and decisive action backed by the PM, the nation could face daytime rationing within a decade.

The Chancellor aims to raise pension taxes to finance a major welfare policy reversal, amid mounting concerns over budget constraints.