Labour refuses to guarantee triple lock for pensions
Labour’s policy chief Pat McFadden has created huge uncertainty for Britain’s pensioners after he admitted that a government led by Sir Keir Starmer would not guarantee the triple lock for the state pension.
The triple lock was brought in by David Cameron’s government in 2010 after it had been opposed by Gordon Brown’s Labour government.
It means that the state pension goes up by by 2.5 percent or the highest rate of inflation whichever is the higher.
Currently, the Daily Express is campaigning to ensure that Conservative Chancellor Jeremy Hunt maintains the guarantee for Britain’s hard pressed pensioners.
But with an election coming next year and Labour leading in the polls by 20 points, Mr McFadden’s comments will cause concern for the UK’s pensioners.
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Laura Kuenssberg on her BBC Sunday morning politics show pointed out that Labour’s deputy leader Angela Rayner had also refusd to commit to keep the triple lock in place.
She asked: “Will the triple lock be in the Labour manifesto?”
Mr McFadden suggested that pensions had already been raised a lot by the triple lock hinting it could now be reconsidered.
He said: “The triple lock has raised pensions quite a lot in the last decade or so.
“All of these big ticket items are going to depend on the state of the economy at the time and the manifesto will take that into account when the election comes probably in a year’s time.”
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Pressed again, McFadden said: “We are committed to keeping the triple lock now, what we have to say about the future Parliament comes when we come to draw up the manifesto.”
He pointed out: “We write the manifesto when the election comes.”
The exchanges came after Starmer had refused to rule out yet another tax hike on the british people in an earlier interview with Sky News.
It comes amid growing concerns over pensioner poverty with inflation pushing up the cost of living dramatically.
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