Tuesday 28 February 2017 / 9:09 AM 2017 Press Archive / The Latest from Labour

Chancellor must commit to ‘triple lock’ at Budget

In a speech today on intergenerational fairness Labour’s Shadow
Work and Pensions Secretary will demand that the Chancellor ‘commit’ in the
Budget to ‘guarantee the triple lock on state pensions beyond 2020’.

The Government hinted that they may cut the triple lock in order
to “tackle the challenge of rising longevity.” This led to accusations that the
Tories were ‘abandoning older people’.

Labour has made a commitment to maintaining the triple lock under
the next Labour government, alongside other pensioner benefits.

Abrahams MP, Labour’s Shadow Work and Pensions Secretary
commenting on concerns that the
Government has refused to commit to the triple lock said:

 “It was shocking to hear the Chancellor suggest that he
would expose older people to the flawed austerity agenda – further proof that
the Tories are abandoning older people.

“The last Labour government were responsible for a historic reduction
in pensioner poverty levels. A record that we remain hugely proud of.

 “The Chancellor must use this Budget to provide clarity on
the issue of the triple lock, and follow Labour’s lead by committing to the
policy beyond 2020.”