Andy Burnham is facing an 'almighty political battle' with pensioners if he scraps the triple lock, campaigners warn, as one of his economic advisers doubles down on criticism of the policy. Andy Haldane, former chief economist at the Bank of England and now an adviser to Burnham, called the measure 'fiscally unsustainable' and suggested it could be reformed under the likely next prime minister.
Triple Lock Under Fire
The triple lock ensures the state pension rises each year by the highest of average earnings growth, inflation, or 2.5%. Critics, including Haldane, argue it is unaffordable and unfair to younger generations. In an interview with City AM, Haldane said the debate has 'shifted' in recent months, with figures like former premier Sir Tony Blair and ex-chancellor Jeremy Hunt speaking out against the policy. He added: 'I don't know when the moment will come politically, I don't know when the political will can be summoned, to tackle this, but I think the vast majority of people would say it does need tackling, and given our strained fiscal times. Why not now?'
Campaigner Warning
Dennis Reed, director of Silver Voices, warned: 'Unless Burnham makes an urgent statement making clear that scrapping the triple lock is not his policy, we will have to assume that he has sanctioned this orchestrated campaign. If he follows the line of his anti-pensioner attack dogs he is in for an almighty political battle with British pensioners.' Burnham, poised to enter Downing Street within weeks, has committed to honouring Labour's manifesto pledge to keep the triple lock until the end of this parliament. His team has been contacted for comment.
Political Context
Haldane has previously called for the triple lock to be axed to boost defence spending. The Daily Express 'Save Our Pension Triple Lock' crusade urges all major parties to commit to the policy in their next manifesto. The controversy comes as Burnham faces additional pressures, including a warning over 'cruel' threats to pensioner winter fuel payments and a loss in key by-elections to Reform.
