Pension reform does not mean cutting pensions.
A smoothed earnings link would keep pensions rising, protect pensioners in high-inflation years, and avoid permanently locking in exceptional cost spikes.
That is a fairer settlement between generations.
https://t.co/OnBFXL6rRE
@_PaulMonaghan@Prosper_UK_ I’m afraid that is entirely wrong. The state pension is expenditure, it is welfare. It is not a return on investment, it is not a payment from the recipient’s pension fund.
In other words, this is still a system for increasing the state pension that is more generous than what was in place from 1980 to 2011, when it increased merely in line with inflation. What can be more reasonable than that?
It is all too tempting for politicians to go round making easy but expensive promises, but it is time for politicians to be brave and honest. That’s why @Prosper_UK_ is making the case to scrap the triple lock. My piece for @politicshome. https://t.co/tWCjtLnrvB
Instead of the triple lock, we propose that the state pension should not only be protected in real terms (ensuring that it always increases at least in line with inflation), but that over time it’ll increase in line with average earnings, which is generally higher than inflation.
Our report sets out proposals to:
Reform the triple lock
Restore in-person benefit assessments
Reform health-related Universal Credit and PIP
Make work pay
A fairer welfare system must protect those in need, support people into work, and be sustainable.
https://t.co/XPM8Rn2SsO
The time is right to move on from the triple lock.
It is uncertain, unpredictable and expensive.
A smoothed earnings link would protect pensioners from inflation, make the system fairer, and free up more money for priorities like defence.
@_PaulMonaghan@Prosper_UK_ I’m afraid that is entirely wrong. The state pension is expenditure, it is welfare. It is not a return on investment, it is not a payment from the recipient’s pension fund.
It is time for political parties to be brave and honest. Our welfare spending is not sustainable.
We must scrap the triple lock, writes @DavidGauke https://t.co/31aNPEERyh
The time is right to move on from the triple lock.
It is uncertain, unpredictable and expensive.
A smoothed earnings link would protect pensioners from inflation, make the system fairer, and free up more money for priorities like defence.
.@Prosper_UK_’s first policy proposal:
The triple lock has served pensioners well, but it isn’t sustainable forever.
A smoothed earnings link would protect pensioners while putting the system on a fairer, more sustainable footing.
https://t.co/weHd6R0h3s
Replace the triple lock with a smoothed earnings link.
Pensions would keep rising with wages and be protected when prices spike, but on a fairer and more sustainable footing.
Security for pensioners. Fairness for taxpayers.
https://t.co/ES9BKXxHhS
Why should people of working age have a lower personal allowance than pensioners? Age related allowances were abolished in the 2012 Budget and - even though it provoked a row about ‘the granny tax’ - we stuck to it. They’re unfair, expensive & create additional tax complexity.
Another absurd intervention by Burnham. The triple lock should never have been in Labour’s manifesto and ought to be broken. And if pensioners receive taxable income in excess of the personal allowance, they should of course pay tax on it. Why load the burden on younger people?
Politicians shouldn't "throw their support behind a cause and then go into government and not do anything". But the point here is that it was foolish to throw their support behind this undeserving cause.
NEW: Andy Burnham has hinted at a new multibillion-pound spending commitment if he becomes PM, saying that more than 3.5mn women “deserve” compensation over what he regards as a pension scandal
Earlier I attended a Makerfield hustings event hosted by @MENnewsdesk, in which Burnham said: “I stick by campaigners that I support. I stuck by the Hillsborough families, I’ll stick by the Waspi women because they deserve some recompense for the unfairness.”
Stressing he wouldn’t ditch his longterm support for Waspi women, he said he felt “uncomfortable” that some politicians threw their support behind a cause but then went into government and “didn’t do anything”
https://t.co/vQkuikv3aG
It is implausible & wrongheaded to be even raising the spectre of funding this type of stuff given the fiscal situation.
We spent £300 billion in Covid, & £40 billion on energy bill support (Labour were calling for us to spend more!), national debt as a share of GDP went up from 79% to 95%.
Since coming into office Labour have ramped up spending, debt has gone up by £250 billion.
We spend more on debt interest than we do on defence and schools COMBINED.
Even Labour’s current spending plans show public services being cut at the end of the spending review period. Does Andy Burnham seriously want to give waspi women money rather than schools?
This is also why letting the welfare spend balloon is so irresponsible. It has a direct impact on public services spending.
Why what went wrong when the police arrived at the scene might have nothing to do with race, but the police still need to change their wider approach. Plus why Reform’s response shows why the Tories can’t do business with them. My @conhome piece. https://t.co/DHUi54JZ6f