diff --git a/.gemspec b/.gemspec
index 4387f767597..1e038cbf1cd 100644
--- a/.gemspec
+++ b/.gemspec
@@ -13,7 +13,7 @@
 
 Gem::Specification.new do |s|
   s.name = "puppet"
-  version = "7.30.0"
+  version = "7.31.0"
   mdata = version.match(/(\d+\.\d+\.\d+)/)
   s.version = mdata ? mdata[1] : version
 
diff --git a/lib/puppet/version.rb b/lib/puppet/version.rb
index 3ac4c4d9286..c65e61fb985 100644
--- a/lib/puppet/version.rb
+++ b/lib/puppet/version.rb
@@ -6,7 +6,7 @@
 # Raketasks and such to set the version based on the output of `git describe`
 
 module Puppet
-  PUPPETVERSION = '7.30.0'
+  PUPPETVERSION = '7.31.0'
 
   ##
   # version is a public API method intended to always provide a fast and