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Burnham says he will end pensions triple lock from 2030 to help fund national care service
The move would save around £15bn a year by the end of the 2030s, officials said, and would help fund a free national care service.
- On Tuesday, September 29, Prime Minister Andy Burnham announced the state pension triple lock will be "adjusted" from April 2030, removing the automatic link to average earnings in favor of a double lock based on CPI inflation or 2.5%.
- To fund a new National Care Service, Burnham plans to use "significant savings" generated by the triple lock modification, with the service designed to be free at the point of use and provide peace of mind in later life.
- The Prime Minister confirmed the triple lock will remain unchanged for the rest of this Parliament, protecting low-income pensioners from being "dragged into paying income tax" during this period.
- Reform UK leader Nigel Farage accused Burnham of "launching an offensive against our elderly," while Unite general secretary Sharon Graham argued ministers should have "pulled another lever" such as a wealth tax.
- Government projections indicate the policy change will generate "significant savings" reaching about 15 billion annually by 2040, with reforms set to appear in Labour's 2029 election manifesto.
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Snap poll suggests public supports scrapping triple lock to fund national care service - Left Foot Forward: Leading the UK's progressive debate
Burnham's flagship announcement seems to be popular The post Snap poll suggests public supports scrapping triple lock to fund national care service appeared first on Left Foot Forward: Leading the UK's progressive debate.
PM Burnham unveils divisive plan to change UK pensions
UK Prime Minister Andy Burnham on Tuesday unveiled contentious plans to reform Britain's state pensions system from 2030, a politically perilous move likely to spark intense pushback. In a keynote speech at his ruling Labour party's annual conference, Burnham vowed to end the so-called "triple lock" guarantee to help fund a "landmark" new national care service. The current guarantee sees the annual pension increase by the amount whichever is hig…
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Total News Sources160
Leaning Left24Leaning Right14Center66Last UpdatedBias Distribution63% Center
Bias Distribution
- 63% of the sources are Center
63% Center
L 23%
C 63%
14%
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