Government insists it remains committed to triple lock after Pensions Secretary admits policy is 'unsustainable'

12 September 2023, 23:51 | Updated: 12 September 2023, 23:54

Greg Hands (top right) told LBC on Tuesday the government remains "committed" to the pensions triple lock
Greg Hands (top right) told LBC on Tuesday the government remains "committed" to the pensions triple lock. Picture: Getty/Alamy/LBC
Kieran Kelly

By Kieran Kelly

The government has insisted it remains committed to the triple lock after the Pensions Secretary Mel Stride labelled the policy "unsustainable".

Listen to this article

Loading audio...

Speaking to LBC's Tonight with Andrew Marr, Tory party chairman Greg Hands insisted the government remains "committed" to the triple lock, though refused to confirm how that will be set out in the Autumn statement.

“The commitment at the moment is strongly to the triple lock - it’s worked very well for us for the last 13 years," Mr Hands told LBC.

“I’m not going to commit to how, in the Autumn statement…that’s a matter for the Chancellor and the Prime Minister, and the Secretary for Work and Pensions."

He added: “The Government has got a strong committment to the triple lock…but when it comes to the process, I’m not going to pre-empt anything that might be in the Autumn statement or fiscal statements beyond that.

Tory Chairman Greg Hands responds to questions on the triple-lock

It comes after Work and Pensions Secretary Mel Stride hinted pensioners may not get the 8.5 per cent increase in the state pension, as earnings figures suggest.

Speaking on Tuesday, Mr Stride refused to confirm that the figure for average earnings including bonuses would be used under the triple-lock formula.

"There clearly is a difference if you take into account the non-consolidated elements of pay in recent times, but these are all decisions that I have to take with the Chancellor as part of a very clear process, a statutory process actually, that I go through in the autumn," he told Radio 4.

"So I didn't want me to get into the weeds of exactly how I'm going to go about that. But the overarching point about the triple lock is that we remain committed to it."

Put to him that he was not ruling out using a lower figure based on earnings without bonuses, around 7.8%, he said: "I'm not going to get drawn into those kinds of questions."

Read More: Sunak refuses to commit to triple lock on pensions being in Tory election manifesto

Read More: Over 50s should consider getting jobs as takeaway delivery riders, pensions secretary says in back-to-work drive

Meanwhile, Number 10 has insisted it remains "committed" to the so-called triple lock policy but also refused to indicate how much the state pension will rise ahead of the "formal process" for uprating.

The Prime Minister's official spokesman said: "You know there's a formal process for this when it comes to uprating but we remain committed to the triple lock which has seen 200,000 pensioners lifted out of absolute poverty after housing costs are taken into account."

Robert Buckland shares his 'pride' in his party for introducing the triple lock

Asked whether the average earnings figure of 8.5%, which includes bonuses, would be applied rather than a figure excluding bonuses, the official replied: "All those decisions on uprating are taken on a later date, later this year. I can't pre-empt that work."

No 10 said the framework for uprating remains "as is published".

More Latest News

See more More Latest News

A Serbian assassin may prove to be a key suspect in the murder of TV star Jill Dando in 1999, an investigation has revealed.

New clues unveiled in mysterious Jill Dando murder case as second witness links 'Serbian assassin' to TV star's death

Commuters cycling to work on an urban street

Cyclists who kill pedestrians to face life sentences in victory for campaigners who slammed former 'loophole' in law

A fleet of Mercedes minivans carrying actress Florence Pugh and her family were targeted by 'masked robbers' following the premiere of her new film Thunderbolts.

Florence Pugh's minivan targeted in 'shock raid' by 'lawless' masked thieves following Thunderbolts premiere in London

Prime Minister Sir Keir Starmer during an 'In Conversation' event with Debbie Weinstein, managing Director Goole UK&I during the Labour Party Conference at the ACC Liverpool. Picture date: Monday September 23, 2024.

Sluggish AI adoption could cost UK economy £200bn in growth as Google issues 'call to arms' over country's tech gap

PEEQUAL co-founders Hazel McShane (left) and Amber Probyn.

Runners’ urine to be turned into fertiliser at the London Marathon

A person views knives available to purchase via an online website

Tech firms and bosses face fines up to £70,000 for failing to remove 'sickening' knife crime content

Sewage protest in Falmouth, Cornwall following a series of discharges which cancelled beachside events

'No more hiding places' - Polluting water bosses face up to two years in prison under new laws

Pile of chocolate digestive biscuits

We've been eating chocolate digestives wrong for 100 years, reveals McVitie's boss

A man lighting up a cigarette

Effects of smoking and drinking too much are 'felt by the age of 36'

Constance Marten and Mark Gordon

Runaway aristocrat Constance Marten tells court 'we did everything we could' to protect newborn baby as trial continues

US President Donald Trump will be sat in the third row at Pope Francis' funeral.

Trump to be relegated to the third row at the Pope's funeral

The head of Edinburgh University has said "around 350" staff have taken voluntary redundancy as the sector wrestles with a financial crisis, with more jobs being potentially cut.

350 staff at Edinburgh University take voluntary redundancy and more jobs on the line

Kieron Goodwin, 33, was found guilty of murder after a five-week trial at Bristol Crown Court

Man who plied partner with cocaine then fatally strangled her on night she planned to leave him convicted of murder

Andrew Johnston of Britain's Got Talent performs at Manchester's Christmas party at Albert Square on November 12, 2010 in Manchester, England.

Britain’s Got Talent choirboy star who was given £1m record deal ‘pinned down and raped’ two women

Exclusive
Kneecap have been making headlines after they used a recent performance at Coachella to denounce Israeli attacks on Gaza

Kneecap could be pulled from major UK show after shouting 'pro-Hamas' chants at concert

Eni Aluko and Ian Wright during the Arnold Clark Cup match between England Lionesses and Spain at Carrow Road on February 20, 2022 in Norwich, England.

Eni Aluko 'faces sack' after accusing Ian Wright of blocking female pundits by ‘dominating’ women’s football coverage