Government's Triple Lock breach sets dangerous precedent

Nigel Dodds, Lord Dodds of Duncairn has warned that the Government’s decision to break its Triple Lock guarantee to pensioners sets a dangerous precedent, and that having done it once it will be much easier for them to do again in the future.

By The Rt Hon Lord Dodds of Duncairn OBE Peer

He said, “The DUP made this part of the Confidence and Supply agreement with the the government in 2017 to ensure pensioners were protected and it was guaranteed for that Parliament.

The UK has one of the least generous state pension regimes of major countries in the world according to the Organisation for Economic Co-Operation and Development (OECD).

Pensioner poverty is at the highest level in many years and has been rising steadily since 2012 according to the charity Independent Age. 2 million people have to get by on a state pension of less than £100 per week, mainly women, according to Hargreaves Lansdown.

The fact is that this was a Tory Party manifesto pledge and it should not easily be tossed aside like other pledges which all appear to be worthless.

The pandemic has led to particularly difficult circumstances for older people and fuel price increases will lead to greeter fuel poverty amongst older people.

Household costs have risen faster for pensioners than for the working population according to the Office for National Statistics.

If it were scrapped completely, low paid younger people would have to save double the amount to avoid poverty in old age.

Most pensioners have paid into the system for 40-50 years.

Whilst the government say it is temporary, there is absolutely no guarantee given as to the future.

It’s a dangerous precedent and the danger is if it happens once it can happen again”

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