{"id":130142,"date":"2022-11-07T19:37:19","date_gmt":"2022-11-07T19:37:19","guid":{"rendered":"https:\/\/fin2me.com\/?p=130142"},"modified":"2022-11-07T19:37:19","modified_gmt":"2022-11-07T19:37:19","slug":"scrapping-triple-lock-will-see-labour-walk-next-election","status":"publish","type":"post","link":"https:\/\/fin2me.com\/politics\/scrapping-triple-lock-will-see-labour-walk-next-election\/","title":{"rendered":"Scrapping triple lock will see Labour walk next election"},"content":{"rendered":"
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He said Rishi Sunak would pay the price at the ballot box if he fails to stick by the Conservative’s 2019 manifesto promise for retirees in next week’s Autumn Statement.<\/p>\n
Labour will ramp up pressure on the Tories to keep to their commitment in a Commons vote on Tuesday – challenging backbenchers to defy the government.<\/p>\n
It comes as support for the Daily Express campaign to save the triple lock continues to grow with more than 286,000 people signing a petition to protect the benefit.<\/p>\n
The triple lock vowed to increase the state pension by the highest of either the previous September’s inflation – which this time was 10.1 per cent – the rate of wage growth or 2.5 per cent. <\/p>\n
The guarantee was halted for 2022-23 after the pandemic response caused an unusual eight per cent rise in earnings a year ago, when wages soared back up following the end of lockdown.<\/p>\n
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But its future has been placed in jeopardy as the government tries to fill a £60 billion black public funding black hole. <\/p>\n
The Prime Minister and Chancellor Jeremy Hunt’s much anticipated fiscal plan will be unveiled next Thursday.<\/p>\n
Breaking the manifesto pledge would deprive people on the new state pension of £443 a year.<\/p>\n
Mr Ashworth, Labour’s Shadow Work and Pensions Secretary, said older voters would never forgive the Tories if they ditch the triple lock. <\/p>\n
He said: “I would like to congratulate the Daily Express and its readers on its campaign to hold the government to their promise to keep the triple lock on pensions.<\/p>\n
“But I am worried a great betrayal is about to be imposed on the country.”<\/p>\n
He said Labour would guarantee the triple lock for next year but refused to commit to it if Labour won the next general election.<\/p>\n
“Labour will always be the champion of rewarding pensioners,” he said. <\/p>\n
Labour’s Opposition Day Debate in parliament could prove to be embarrassing for Mr Sunak.<\/p>\n
The non-binding vote calls on the government to “commit to maintaining” the triple lock “as promised in the manifesto”.<\/p>\n
Mr Ashworth said the Tories “betrayed pensioners” when the triple lock was broken earlier this year and that the Labour is demanding that it is not broken for next year. <\/p>\n
“The vote is a key test for Tory MPs: Will they keep their election promise or once again betray the pensioners they’re supposed to represent?,” he said.<\/p>\n
“Older people have already endured the largest ever real-terms cut to their State Pension and now face being another £440 worse off under the Tories. <\/p>\n
“Labour will block any attempt by the Tories to break the Triple Lock for next year.<\/p>\n
“We will always be on the side of pensioners, who have given our country so much and who deserve security and dignity in retirement.” <\/p>\n
New analysis by Labour claims that dozens of Tory seats – including Jeremy Hunt and Dominic Raab – could be lost by the Tories at the next general election if the triple lock is scrapped.<\/p>\n
The Chancellor and Deputy Prime Minister are among Cabinet Ministers with more state pensioners in their constituency than their majority.<\/p>\n
That means they risk being ousted if they scrap the triple lock and spark a mass revolt by pensioners, many of whom historically vote Conservative.<\/p>\n
The analysis found that up to 21 Cabinet ministers’ seats are at risk.<\/p>\n
A Tory source said: “Obviously we have been clear that some very difficult decisions lie ahead. <\/p>\n
“The Secretary of State is conducting his statutory annual review of benefits and state pensions. <\/p>\n
“The Govt has already underlined that any decision will be guided by fairness and a commitment to protect the most vulnerable.”<\/p>\n
A binding vote on benefit and pension rises is due in February.<\/p>\n