Rishi Sunak hints that he will honour the triple lock

GOOD NEWS: Government delays massive change to state pension age, affecting millions of Britons

Pension pot - Image One Photo / Shutterstock.com

Prime Minister Rishi Sunak has hinted that he will honour the triple lock despite the massive financial deficit the country is facing.

According to a report by the Mirror on Tuesday, November 15, Sunak said that he “cares very much” about pensioners.

Sunak was speaking on his way to G20 meeting effectively reversing his earlier statements that followed his appointment, when he admitted he was thinking about ditching the pledge.

Ditching the pledge would see more than 12 million people up to £470 a year worse off, a move that would according to many analysts be a suicidal move for the party.

With the autumn statement due on Thursday, pensioners and the rest of the country will hear how the government is to balance the books. That may or may not include a statement on pensions, with the increase only due to come into force in spring.

That may see the chancellor hold off on a pension increase to see what impact the autumn statement has on the country’s finances.

Sunak has been warned against dropping the pledge and has found himself at the end of at least one elderly person’s silver tongue, the prime minister being chastised on more than one occasion by pensioners he has recently met.

Speaking to journalists in Indonesia Sunak said: “I care very much about… pensioners, particularly when it comes to things like energy and heating because they are especially vulnerable to cold weather.

“I am someone who understands the particular challenge of pensioners. They will always be at the forefront of my mind.

“Conservative governments have got a good track record of protecting pensioners and, in fact, the state pension today is about £700 higher than it otherwise would be as a result of the triple lock.”

 “We will put fairness and compassion at the heart of all the decisions we make and I am confident people will see that on Thursday.”

If he does indeed stick to the pledge, pensions will rise by 10.1 per cent to £203.85. However, that is definitely not a given with the government having changed its story on the triple lock multiple times in recent months.

Although the Conservative Party manifesto in 2019 manifesto said that the triple lock will be maintained, Sunak has already reneged on other commitments and pledges.

So, although Rishi Sunak has hinted that he will honour the triple lock, nothing can be taken for certain until it is announced and passed through parliament. That means more uncertainty for pensioners as they wait concrete news.

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Written by

Peter McLaren-Kennedy

Originally from South Africa, Peter is based on the Costa Blanca and is a web reporter for the Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at editorial@euroweeklynews.com.