RISHI Sunak today raised fears that pensions could once again be under threat after refusing to commit to the ‘triple lock’.
Pensioners have been worried about whether their payments will rise in line with inflation – and now it looks as though millions could lose out on cash.
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Liz Truss refused to commit to raising state pension payments in line with inflation from April 2023.
And Mr Sunak had been expected to confirm the ‘triple lock’ will stay – but this afternoon No10 refused to comment on the matter.
The move could mean that those on the new state pension will miss out on as much as £12,296.94 over the next 20 years.
And those on the basic state pension could miss out on £9,421 over the same period.
The triple lock ensures that payments rise each year by whichever is highest of the three figures: inflation, wages or 2.5%.
Inflation fell to 9.9% in August after reaching a 40-year high of 10.1% earlier in July.
Pensioners would be hundreds of pounds a year worse off a year without the triple lock – which was included in the Tories 2019
But today Mr Sunak’s press secretary refused to guarantee it.
He said: “That is something that is going to be wrapped up into the fiscal statement, we wouldn’t comment ahead of any fiscal statements or budgets.
“But what I can say is he has shown through his record as Chancellor is that he will do what’s right and comassionate for the most vulnerable.”
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It comes as Mr Sunak flew out of the blocks on his first full day as PM – announcing a full Budget and doing battle with Sir Keir Starmer.
The new Tory leader locked horns with his Labour foe over the economy and Brexit in a fiery PMQs debut this afternoon.
Launching a volley of attacks, Mr Sunak blasted Sir Keir for supporting former Labour leader Jeremy Corbyn, and trying to overturn the 2016 Brexit referendum result.
Taunting the PM about his loss to Liz Truss in the summer, the Labour leader railed: “He’s not on the side of working people.
“That’s why the only time he ran in a competitive election, he got trounced by the former prime minister, who herself got beat by a lettuce.”
To the delight of his Brexiteer backbenchers, Mr Sunak shot back: “He talks about elections. It’s a bit rich coming from the person who tried to overturn the biggest democratic election in history.”
