Commons Sense

House of Commons · Ministers' Questions

Pensions Triple Lock

Tuesday 14 November 2023 · 3 questions

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Answered 0 Partly answered 1 Not answered 0

Key points

  • The basic state pension is more than 50 percent higher in cash terms than it was in 2011 due to the Government's triple lock.
  • The Chancellor refused to commit to putting the triple lock in the next manifesto, citing it as a Conservative initiative.
  • The Secretary of State for Work and Pensions offered to meet Ranil Jayawardena to discuss ways to make the taxation system more family friendly.

Topics (select to filter)

Questions & Answers

Q1 Richard Foord Lib Dem Honiton and Sidmouth
Economy Benefits & Welfare
Context

No specific background given, but the question focuses on the economic impact of maintaining the pension triple lock.

Question

What assessment has been made of the potential impact of maintaining the pensions triple lock on the economy?

Answer from Laura Trott

As a result of the Government's triple lock, the basic state pension is now more than 50% higher in cash terms than it was in 2011. The Secretary of State for Work and Pensions is undertaking his review at the moment, and I cannot pre-empt that.

Partly answered

Not addressed: The economic impact assessment requested by the MP was not provided; instead, an increase in state pension funding was noted.

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Q2 Richard Foord Lib Dem Honiton and Sidmouth
Benefits & Welfare
Context

The MP references the origins of the pensions triple lock as a Liberal Democrat initiative from 2010. The triple lock has been in place for over a decade.

Question

Given that the triple lock was a Liberal Democrat initiative and it has now been operational for more than a decade, will the Chancellor and his team commit to putting the triple lock in the next manifesto?

Answer from Laura Trott

Nice try. The triple lock was a Conservative invention, delivered by the Conservatives, and it is something to which we remain committed.

Not addressed: The commitment requested for including the triple lock in the next manifesto was not addressed; instead, the origin of the initiative was disputed.

How: Nice Try, Conservative Invention

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Q3 Ranil Jayawardena Con
Taxation Benefits & Welfare
Context

No specific background given, but the MP welcomes a new role and discusses the importance of having a strong tax base to fund pensions.

Question

Given that it is right that we look after our pensioners and ensure people are well looked after in later life, it is important that we have the right tax base. Will she meet me to consider ways to make our taxation system more family friendly to encourage more children and ensure we can pay for pensions?

Answer from Laura Trott

My right hon. Friend is a brilliant advocate on these issues, and of course I would be delighted to meet him.

Not addressed: The meeting request was not addressed directly; instead, the MP's advocacy skills were acknowledged.

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