Kemi Badenoch, the Conservative leader, has announced that the party will consider means-testing the triple-lock system in a significant policy shift. Speaking during a phone-in on LBC, Mrs Badenoch acknowledged that while the Conservative Party had supported the triple-lock throughout its time in government, it is now time to reassess its future.
The triple-lock policy ensures that the state pension increases annually by whichever is highest out of 2.5%, inflation, or earnings. The system has been a cornerstone of the Conservative government’s pension strategy in recent years, but Badenoch’s comments signal a potential rethink on its sustainability and fairness.
“We’re going to look at means-testing,” Mrs Badenoch said in response to a question about the future of the triple-lock. “Means-testing is something which we don’t do properly here.” She further clarified that the party would consider a system where those with higher incomes or wealth may not receive the same pension increases as those on lower incomes.
However, Badenoch also voiced criticism of the Labour Government’s decision to means-test the winter fuel payment, stating that it had led to some vulnerable people being unfairly stripped of their winter fuel support. “People who are actually on the breadline have had their winter fuel payment taken away,” she argued. “We don’t have a system that knows who should get what.”
The Conservative leader suggested that a broader conversation needed to be had about the country’s economic growth and future. “The triple-lock is a policy which we supported throughout our 14 years in government, that was a Conservative policy, but we need to make sure that we are growing,” she said.
Badenoch emphasised the importance of securing a sustainable future for younger generations. “We’ve got to give something to the next generation. What are we leaving them with?” she asked. “And that’s what we’ve got to sort out. We can’t just make ourselves comfortable now, spending their future.”
Her remarks indicate a growing concern among Tories about the long-term sustainability of pension policies and their ability to balance support for pensioners with the need for fiscal responsibility.
Political backlash and criticism
The suggestion quickly provoked strong reactions from political opponents. Labour accused the Conservative leader of planning to cut pensioner benefits and warned that pensioners could face significant financial hardship as a result of the proposed changes.
A Labour Party spokesman responded sharply, saying: “Kemi Badenoch has put pensioners on notice – she’s going to cut your state pension.” The spokesman also pointed to Labour’s pledge to provide a £470 cash boost for pensioners in April, framing it as a commitment to protect vulnerable groups while the Tories “have let the mask slip” by suggesting cuts.
“The Labour Government has taken tough action to clean up the mess the Tories left our economy in, meaning we can guarantee a £470 cash boost for pensioners in April,” the spokesman continued. “The Tories haven’t listened and they haven’t learned.”
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Liberal Democrat deputy leader Daisy Cooper also weighed in, accusing Badenoch of presenting a “bungled” new policy. “Bungling Badenoch has finally come up with her first new policy, slashing the state pension,” she remarked. “The Conservatives urgently need to clarify what she meant and how many pensioners would lose out.”
Cooper further stated that the Liberal Democrats were proud of their role in introducing the triple-lock and vowed to oppose any attempts to weaken the system. “We will fight tooth and nail against Conservative attempts to weaken it,” she added.
The future of the triple-lock
Badenoch’s comments signal a potential shift in the Conservative Party’s approach to pension policy, raising questions about how the party plans to balance fiscal prudence with support for pensioners. While means-testing could be seen as a way to target resources more effectively, critics argue that it may undermine the financial security of those who rely on the state pension as their main source of income.
The government’s position on the triple-lock and the future of pensioner support will likely become a key point of debate in the coming months, with both sides of the political spectrum vying for influence on the issue. As the Tories reassess their stance, the question remains: will they maintain the triple-lock as it is, or will they pursue more targeted reforms in the name of economic sustainability?
