Rishi Sunak could temporarily replace the Government's 'triple lock' promise with a 'double lock' as he tries to avoid adding more than £7billion to the annual cost of the state pension. The 'triple lock' commits ministers to increasing the pension by the highest of earnings, inflation or 2.5 per cent. That would leave the Government having to find more than £7billion a year to cover the pension increase that should follow. The prospect of a temporary shift away from the 'triple lock' has prompted fears that the move would ultimately end up being made permanent. 'However, it's asking a lot for older people to believe that any scaling back of the triple lock would only be temporary rather than permanent.'

Source: Daily Mail August 02, 2021 10:06 UTC