Iain Duncan Smith has called for the triple lock to be axed.
State pensioners have been warned they could find the Triple Lock SCRAPPED under Department for Work and Pensions ( DWP ) changes. Iain Duncan Smith has called for the triple lock to be axed.
Senior Conservative Party figure Duncan Smith said it was time to “move away” from the mechanism. Sir Iain was questioned on BBC Radio’s FiveLive by presenter Matt Chorley, who asked: “What about the pension triple lock? The world has changed a lot since it was introduced. Is that still sustainable?”
Sir Iain said: “That was the point I was always trying to make to them. I thought the triple lock in the short term was okay, but when I looked at the figures in the flow, which are astonishing, the scale that you are then pushing through the triple lock takes them well away from working people.
READ MORE All the parts of England and Scotland set to wake up to 1cm snow next week
“In other words, it puts an extra burden on taxpayers in the working system. So, I always felt you should move them maybe to a double lock or something rather than a triple lock all the way through.
“But the government didn’t want to do that. As I say, since then you’ve had this terrible energy crisis so now you need more support.” Mr Chorley asked: “Your advice to Kemi Badenoch. Should she look again at the triple lock?”
Sir Iain said: “I think she should. But I think you know looking at politics right now I don’t see any party coming forward with a view that says they’re going to take it off. The trouble is it really does put pressure on costs. And you’ll see that the biggest cost of all to welfare is pensioners.”
Dennis Reed, Director of campaigners Silver Voices, said: “We object most strongly to any fiddling with the triple lock. It is essential to stop older people falling into poverty. The prices for essential household items have gone through the roof over the past few years. That triple lock is there as a basic safeguard and it needs to be kept intact.
“All the political parties, including Iain Duncan Smith’s own party, were committed to the triple lock for the whole of this Parliament. His stirring the pot now is unnecessary and mischievous.”
