No10 hints state pension 'triple lock' WILL be watered down saying ministers must ensure 'fairness' amid fears Covid 'warping' of wage figures could mean 8 PER CENT hike this year
Growing concern about a potential 8 per cent rise in the state pension this year Fears Covid effects warping wage figures will result in a massive cost for public Speculation that government could temporarily tweak the mechanism to lower By James Tapsfield, Political Editor For Mailonline
Published: 14:41 BST, 29 July 2021 | Updated: 14:41 BST, 29 July 2021
Downing Street today delivered another hint that the state pension triple lock could be watered down this year amid fears over Covid 'warping' of wage figures.
A spokesman for the PM said they 'recognised people's concerns' about the prospect of the mechanism resulting in an 8 per cent rise - squeezing the public finances even further.
No10 stressed the government has to ensure 'fairness for both taxpayers and pensioners'.
The comments came after Work and Pensions Secretary Therese Coffey raised eyebrows by saying ministers would be 'driven by the data' as to whether to make any changes.
The Tory manifesto committed to keeping the 'triple lock', which guarantees that the state pension rises by the highest out of inflation, earnings or 2.5 per cent.
However, there has been growing alarm at the
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