Fears over triple lock as Andy Burnham warned of ‘almighty battle’ with pensioners | Politics | News
Andy Burnham has been warned he faces a “massive political battle” with pensioners if he lifts the triple lock. One of his economic advisers, Andy Haldane, doubled down on past criticism of the policy, calling the measure “fiscally unsustainable”.
The former chief economist of the Bank of England has suggested there could be reform under Mr Burnham. But campaigners have urged Sir Keir Starmer’s potential successor to ignore changes to the triple lock, where state pensions rise each year in line with inflation, or 2.5%, the highest level of average earnings growth.
Silver Voices director Dennis Reed said: “Unless Burham makes an immediate statement making it clear that it is not his policy to lift the triple lock, we will have to assume he approves of this planned campaign.
“If he follows the line of the anti-pensioner attack dogs he will be in for a major political battle with British pensioners.”
Mr Burnham, who is set to enter 10 Downing Street within weeks, has pledged to fulfill Labour’s manifesto promise to maintain the triple lock until the end of this parliament.
In an interview with City AM, Mr Haldane suggested there could be an area for Mr Burnham to reform as the debate had “shifted” in recent months, with former prime minister Sir Tony Blair and former chancellor Jeremy Hunt among those opposing the measure.
He said: “I don’t know when the moment will come politically to tackle this, I don’t know when the political will can be mustered, but I think the vast majority of people would say it needs to be tackled, and given our strained financial times. Why not now?”
Mr Haldane has previously called for the triple lock to be scrapped to increase defense spending.
Critics warn the policy is unaffordable and unfair to younger generations.
The Save Our Pensions Triple Lock campaign is calling on all major parties to commit to a manifesto supporting the policy at the next general election, the Daily Express reports.
Mr Burnham’s team has been contacted for comment.
