Triple lock to be defended by Tories in next election

Mel Stride says triple blocking 'almost certainly' be in the party manifesto. Photo: Anadolu Agency

The Conservatives will fight in the next general election promising to keep the triple lock, the Pensions Minister promised.

Mel Stride said the policy would “almost certainly” be on the party's manifesto, and that she had there is a “special duty” to protect the elderly.

His remarks will be seen as an important step towards building support among the over 65s as the Tories face an uphill battle to stay in power.

But this commitment will also severely limit Rishi Sunak's room for maneuver and will add even more to the British welfare bill.

Triple lock ensures that the state Pension payments increase every year whichever is greater: earnings, inflation or 2.5 percent.

“Special debt to pensioners”

Asked if the Tories would keep it after the next election, Mr Stride told the LBC: “I think we have a special debt to retirees.

“They are in a difficult situation. making it more difficult for them to re-enter the labor market. So I think it's especially important that we take care of them.”

After pushing again, he added, “I'm sure it will. It's not for me to write a manifesto on the air, but I think it will almost certainly be.

Triple lockdown was introduced by David Cameron in 2010 and has been enforced every year since, except for 2022 when it was temporarily suspended.

Mr Sunak, then Chancellor, made this decision as the economy went out of business. blocking mode. led to a sharp increase in people's incomes.

Lise Truss considered abandoning this mechanism amid worries about a bloated £124 billion UK pension fund, but ultimately decided to return it.

That's right. The recovery means that 12 million pensioners will enjoy a huge boost in their incomes next year, with the State Pension projected to rise by 7% to £11,342.

The State Pension will top £10,000 for the first time next year thanks to the triple lock

Mr Sunak's spokesman said he remains committed to the triple lock, even as stubbornly high inflation makes the policy more and more expensive.

Labor has also repeatedly pledged to keep the policy, and this is expected that he will appear on Sir Keir Starmer's manifesto when he fights the Tories.