Angela Rayner has refused to commit to Labour keeping the state pensions triple lock, telling BBC Breakfast on Tuesday (12 September) that the party would “not make unfunded spending commitments” before a general election.
Ms Rayner’s comments came as ONS figures showed that wages in the UK continued to surge at a record pace.
The total earnings rise is used to determine the “triple lock” guarantee for the state pension, which commits the government to increase the state pension by whichever is highest, wage growth, inflation or 2.5 per cent.
Ms Rayner’s comments came as ONS figures showed that wages in the UK continued to surge at a record pace.
The total earnings rise is used to determine the “triple lock” guarantee for the state pension, which commits the government to increase the state pension by whichever is highest, wage growth, inflation or 2.5 per cent.
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NewsTranscript
00:00 In 2019, in the manifesto, Labour also promised to keep the triple
00:04 lock. Since 2019, the government have crashed the economy and we are
00:11 in a very different place. What Labour has said is that we will look
00:14 at that in the run-up to a general election, but we will not make
00:18 unfunded spending commitments. Liz Trust did that and she crashed the
00:23 economy. She made unfunded tax cuts and it crashed our economy and
00:27 working people paid the price of that. The Labour Party will secure
00:31 our economy, grow the economy and have a real industrial strategy that
00:35 means that people can get on in life and their businesses that want to
00:38 invest in the UK can have the confidence to do so. Just to get this
00:42 clear for me, are you not committed to keeping the triple lock on
00:47 pensions? We will have to see where we are when we get to a general
00:52 election and we see the finances. We will not make unfunded spending