The government has explained how breaking the so-called triple-lock on pension increases does not actually, in fact, break the triple-lock. The following text is taken directly from a government press release.
‘The fact is that the triple-lock is a clear manifesto commitment. Fact. Another fact is that no-one ever read the small print of the manifesto. People prefer to imagine that the manifesto commitment means whatever they want it to mean. Which is actually quite correct. The commitment means whatever we want it to mean. Fact.
The fact is that the government never realised how costly the pension commitment would be. As costs have risen exponentially, which means by a lot, it is right to review whether or not the actual calculation of the triple-lock actually delivers the intended spirit of the policy.
The fact is that the spirit of the policy was to reassure pensioners that the government understood their situation, which was that their votes were available in return for a decent bung. The triple-lock has delivered a decent bung since the last election and will continue to do so.
The fact is that the government has made some minor improvements to the calculation of the pension increase to take out the effect of things entirely outside its control, such as the NHS strike, rail strikes, sewage on the beaches, sleaze, sexism, inflation, rising pay and crumbly concrete. These improvements to the pension increase calculation remain entirely within the spirit of delivering a decent bung to pensioners and this will continue to be the case for the foreseeable future.
These improvements deliver a substantial increase in the state pension from next April and one that is not substantially lower than the substantial increase that would have been delivered under the flawed and discredited arithmetic of the previous calculation.
In fact state pensions have increased by ten thousand per cent since they were first introduced and this will continue to be the case.
So you have every reason to be enormously grateful for the pension increase and every reason to continue to vote Tory very enthusiastically at the forthcoming general election.
Starmer won’t even commit to supporting the triple-lock, for heavens sake. Fact.’