Andy Burnham has confirmed he would maintain the Department for Work and Pensions (DWP) state pension triple lock if he becomes Prime Minister, ruling out any abolition of the policy during the current Parliament. The triple lock ensures that pensions increase each year by the highest of 2.5 per cent, inflation, or average wage growth.
Burnham's commitment to the triple lock
Speaking ahead of a potential Labour leadership bid, Burnham stated that reneging on Labour's manifesto promise to keep the triple lock would be "very damaging." His remarks came in an interview with The i Paper, where he emphasised the importance of upholding the commitment to pensioners.
Nicholas Barr, a professor of public economics at the London School of Economics, endorsed Burnham's stance, calling it "absolutely right." Barr argued that it is economically desirable to "invest in human capital" rather than diverting funds to benefits, supporting the direction of travel Burnham has outlined.
Expert and political reactions
Alex Clegg, an economist at the Resolution Foundation think-tank, expressed hope that the debate around the triple lock's future could be conducted openly ahead of the next election. "It would be encouraging if the debate around what could happen with the triple lock can be had ahead of the next election and going into the manifesto period for all parties," Clegg said.
Wes Streeting, widely regarded as a rival to Burnham, has also made his position clear. Speaking to reporters after a speech outlining his economic vision, Streeting declared: "I can be absolutely unequivocal about that. The triple lock is here to stay for the entirety of this Parliament." He stressed that the government must take intergenerational fairness seriously, noting that older people are "increasingly worried about how their care is going to be provided" while "the next generation is set to do worse than the last, for the first time in our country's history."
Addressing generational challenges
Streeting called on politicians to "face up to those generational challenges and address them in a way that takes people with us rather than doing things to them." He added: "But I think this is why we have got to be much more confident as politicians with treating the public with respect, sharing those challenges with the public, having the conversation with people, and get democratic consent to make sure we've got the right priorities and that we are investing in both security and opportunity for people, both in terms of early years and the best start in life, but also giving people that confidence, dignity, and security in their later years too."
The triple lock has been a cornerstone of pension policy, and both Burnham and Streeting's commitments signal a continuation of the current approach, despite broader debates about fiscal sustainability and intergenerational equity.
