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Brown hits back at Tories plan to reinstate earnings link for pensions

Chancellor Gordon Brown has hit back at the Conservative Party&#39s proposal to re-establish the link between increases in state pensions and rises in earnings.

In his pre-budget report to the House of Commons Brown said the Tory policy would raise a deficit on public finances of 3 per cent a year and would undermine the UK&#39s fiscal stability.

Brown said: “The figure of 5 per cent of GDP for the cost of state pensions means the UK&#39s finances will remain stable going forward. To reinstate the earnings link for pensions would raise deficits of 3 per cent a year.”

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