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State Pension Triple Lock could be scrapped if Andy Burnham is PM
Advisers recommend scrapping the policy after the next election to address long-term fiscal concerns, though Burnham has pledged to honor Labour's manifesto commitment until 2029.
- Advisers to Andy Burnham are lobbying to scrap the State Pension Triple Lock after the next election to protect public finances, according to The Times.
- Driven by high interest rates and wage growth, the Triple Lock has cost around three times more than initial expectations, prompting concerns about long-term affordability.
- Despite the push from economists, Andy Burnham committed to keeping the policy during this Parliament; Lord Jim O Neill said he was "trying to convince" him scrapping could boost national finances.
- Scrapping the policy is considered politically toxic among older voters, the most likely to participate, and most major parties remain committed to the current pledge.
- Andy Burnham has not committed to the policy beyond 2029, suggesting the government should "look at" tax breaks for older people drawn into income tax through frozen thresholds.
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9 Articles
State pension triple lock under threat as Andy Burnham advisers push for overhaul
Andy Burnham has pledged to keep the state pension triple lock, but some of the economists advising him are said to favour scrapping the policy to help repair the public finances.
·London, United Kingdom
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Coverage Details
Total News Sources9
Leaning Left1Leaning Right2Center4Last UpdatedBias Distribution57% Center
Bias Distribution
- 57% of the sources are Center
57% Center
14%
C 57%
R 29%
Factuality
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