Andy Burnham has been urged not to meddle with the Triple Lock on state pensions, or risk an 'almighty battle' with pensioners. This warning comes as Chancellor Rachel Reeves has committed to maintaining the Triple Lock for the remainder of this Parliament.
Burnham's Pledge Under Scrutiny
Burnham, widely anticipated to be the next Prime Minister after Sir Keir Starmer's resignation, has also committed to the Triple Lock. However, the new MP for Makerfield has been urged not to backtrack on this pledge. One of his economic advisers, Andy Haldane, branded the measure 'fiscally unsustainable' as he doubled down on past criticism of the policy.
Triple Lock Impact on Pensioners
For the 2027-28 tax year, the full New State Pension is forecast to exceed £12,860 annually, or roughly £247 per week, under the Triple Lock guarantee. Under the triple lock, the rate of the full new state pension was hiked to just over £240 a week from next April, while the full basic state pension is expected to rise by around an extra £440 a year. This is an increase worth over £550 a year, an extra £120 compared to what it would have been if it had been uprated only by inflation.
Warning from Campaigners
Silver Voices director Dennis Reed said: 'Unless Burnham makes an urgent statement making clear that scrapping the triple lock is not his policy, we will have to assume that he has sanctioned this orchestrated campaign. If he follows the line of his anti-pensioner attack dogs he is in for an almighty political battle with British pensioners.'
Economic Adviser's Criticism
In an interview with City AM, Mr Haldane said: 'I don't know when the moment will come politically, I don't know when the political will can be summoned, to tackle this. But I think the vast majority of people would say it does need tackling, and given our strained fiscal times. Why not now?'
