A vote on the state pension triple lock has been snubbed by the Tories as just one Conservative MP backed keeping the pledge. The vote, tabled by Labour as an opposition day motion, called on the Government to commit to maintaining the State Pension triple lock in 2023-24. The Government promised to keep the triple lock in place as part of its 2019 manifesto.
The Conservative Party abstained from the vote. Just one MP, Sir Christopher Chope, voted in favour of the motion.
The triple lock ensures that the state pension rises in line with whichever is highest of 2.5 percent, wages and inflation.
Prime Minister Rishi Sunak has repeatedly refused to commit to the policy, leaving millions of pensioners in limbo and at risk of being left worse off amid the crippling cost of living crisis.
Around 12.5 million people who receive the state pension could face a real-terms cut in earnings if their payments do not rise in line with soaring inflation, which is currently at around 10 percent.
The triple lock was suspended last year meaning pensioners received a 3.1 percent increase.
So far, nearly 300,000 people have signed the Express’s petition to protect the state pension triple lock, which was launched last week.
The petition, launched in tandem with Silver Voices, which campaigns for over 60s, has been signed by 289,000 people so far.
The Prime Minister is understood to be preparing to announce he will honour the state pension triple lock pledge.
Chancellor Jeremy Hunt has already sent the Government’s official spending watchdog, the Office of Budget Responsibility, his plans for the Autumn Budget later this month.
Last night reports emerged that sticking by the state pension triple lock and plans to increase benefits in line with inflation were among assumptions taken by the Treasury.
The benefit’s future was placed in jeopardy as the Government scrambled to fill a £60 billion black public funding black hole.
While former Prime Minister Liz Truss committed to keeping the triple lock in place, fears of a U-turn on the issue began to grow when Mr Sunak took over as he refused to make the same commitment
On the day after he became Prime Minister, Mr Sunak’s press secretary said he would “do what is right and compassionate” but would not commit to safeguarding the triple lock.
She added: “I’m not getting into speculation on what is going to happen.
“A lot of these things have to be discussed with the Prime Minister and the Chancellor I’m not going to speculate on what is and isn’t going to be in the Budget.
“I’m not going to comment on what decisions are going to be made. The PM’s only been in office for the last 24 hours.”