Govt avoids questions on state pension triple lock

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25 Apr, 2017

Govt avoids questions on state pension triple lock

Chancellor Philip Hammond and Prime Minister Theresa May have both refused to commit to maintaining the state pension triple lock as the election campaign kicks off.

Whilst at a campaigning event in her Maidenhead constituency, Mrs May declined to give a definite answer on whether the triple lock, which sees pensions rise by wages, inflation or 2.5%, will be kept if the Conservatives win the election to hold on to power, according to the Daily Mail.

When asked to commit to the triple lock, Mrs May said: “What I would say to pensioners is just look what the Conservatives in Government have done”.

“Pensioners today are £1,250 better off as a result of action that has been taken,” she added.

“We were very clear about the need to support people in their old age, and that’s exactly what we’ve done”.

The Chancellor elaborated further, according to the Financial Times.

Speaking during a visit to Washington last week, Mr Hammond said: “We said back in the Autumn Statement we would review these issues before the next election…?that is the right thing for us to do and we’ll set out our position in the manifesto”.

He caused a commotion among fellow Conservatives by suggesting the party’s vow not to increase income tax, national insurance or VAT “constrained the ability of the Government to manage the economy flexibly”.

Later, Mr Hammond was forced to issue a statement to clarify that the Conservatives would always be “the low-tax party”.

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