Tag Archives: triple lock

Colin Bloodworth

End of Triple Lock in sight? Why half a million pensioners are not concerned!

By Colin Bloodworth | Mon 13th July 2020 - 3:42 pm

In 2011 the coalition government introduced a formula that would ensure that state pensions would henceforth be automatically protected against the vagaries of inflation. They introduced a so-called triple lock which would guarantee that the state pension would be increased every year by the highest of the following:

  • Average earnings
  • Price inflation as measured by the Consumer Price Index
  • 2.5%

Successive governments have honoured this formula (which produced an increase of 3.9% for pensioners in April this year) and the conservative manifesto in 2019 promised it would be maintained for the following five years.

But then came the coronavirus!

This has heaped a heavy financial toll …

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Posted in Op-eds | Also tagged , and | 9 Comments
The Voice

Tories try to take credit for Lib Dem Steve Webb’s Pensions Triple Lock

By The Voice | Wed 25th February 2015 - 4:33 pm

As the election campaign hots up, all the parties are emailing those who have signed up to their email lists on all sorts of issues.

In the past few days, we’ve seen one from Harriet Harman admonishing the recipient for not responding to Labour’s opinion survey. It had one question, basically “Are you voting Labour?” There wasn’t even a “maybe” option.

We’ve seen a missive David Cameron (or his digital equivalent) has emailed to his distribution list to take credit for the pensions triple lock. The wording looks like it’s been copied and pasted from a Liberal Democrat equivalent.

Now, everyone knows that that was Liberal Democrat pensions guru Steve Webb’s idea. If you look in the 2010 Tory manifesto, you see a commitment to restoring the link to earnings, but that’s about it.

In contrast, this is what the Lib Dem manifesto had to say:

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Gareth Epps

Opinion: Why it is wrong to enshrine the “triple lock” in law

By Gareth Epps | Wed 2nd July 2014 - 10:29 am

pensionsOne of the now regular flow of “policy announcements” from the leadership calls for the 2010 ‘triple lock’ to be enshrined in law.  Passing for a moment over the fact that these “announcements” are of course nothing of the sort and discourteous to Conference which passes policy, (though, to be fair, as Mark Pack and others have pointed out, Steve Webb has been careful to avoid language some others have used that suggests these policies have been agreed without the party having a say), I think it’s the wrong idea.

Why? …

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Posted in Op-eds | Also tagged , and | 32 Comments
Steve Webb MP

Steve Webb writes… Lib Dems will write the pensions ‘triple lock’ guarantee into law

By Steve Webb MP | Sun 29th June 2014 - 8:30 am

webb 01For decades, successive Labour and Conservative governments allowed the state pension to decline after Margaret Thatcher broke the ‘earnings link’ in 1980. The nadir of this was in the Labour years, when Gordon Brown increased the state pension by just 75p a week.

I was determined that the Liberal Democrats would do something about this appalling situation. In our manifesto in 2010 we campaigned on a ‘triple lock’ guarantee. This was a commitment that the pension would rise by whichever rating was highest in each year – by earnings, prices …

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Posted in Op-eds | Also tagged and | 24 Comments
Nick T

Interview: Nick Clegg on the economy, welfare, Cleggism and the “superb” Kung Fu Panda films

By Nick T | Mon 24th June 2013 - 1:02 pm

CleggWe brought you a taste of the Voice’s exclusive interview with the deputy prime minister yesterday. Here is the full interview, covering the economy, welfare reform, pensions, Cleggism, our approach to the manifesto, Kung Fu Panda and Clegg’s cooking.

Nick Thornsby: What’s your take on where the economy is now, three and a bit years into the coalition?

Nick Clegg: My overall assessment is that it is healing. There are signs of confidence slowly seeping back into the sinews of the economy. Some of the latest data on consumer confidence are better …

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Caron Lindsay

Pensions, the triple lock and Scottish independence

By Caron Lindsay | Wed 19th June 2013 - 11:55 am

Steve Webb has come under a bit of fire for comments that his triple lock, which guarantees a state pension rise by the higher of earnings, inflation or 2.5% can’t be guaranteed after the election. Let’s look at what he actually said to the Financial Times.

My view is it should be triple lock; to be absolutely clear, I would want to see that continue. But we, as a party, will have to thrash that one out.

He made clear that this would be something that all parties would have go deal with.

This is pretty much a statement of the obvious. …

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Stephen Tall

Well done, Ed Balls. He’s opened up space for a proper welfare debate. Lib Dems now need to claim that space.

By Stephen Tall | Mon 10th June 2013 - 3:45 pm

Ed Balls has done us all a favour. His announcement last week that if he were Chancellor he would put a stop to winter fuel allowances for well-off pensioners means Labour has joined the Lib Dems in saying we need to focus the welfare budget where it’s needed most, not keep on re-distributing from the worse off to the better off in the name of universalism. It’s why I chose him as my 38th Liberal Hero.

And yesterday he was at it again, highlighting quite how much of the welfare budget the state pension represents — some £74 …

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Ian Swales

Ian Swales MP writes: 12 CUTS Labour don’t talk about

By Ian Swales | Fri 30th December 2011 - 12:30 pm

The Labour party think they can win the economic argument by just wailing about cuts on behalf of their public sector union paymasters. They give no credible alternatives for what they would do about Britain’s economic crisis.

What they also like to ignore is some of the changes that are being made towards making this country fairer. Here is a list of cuts WE should be talking about because they are mostly happening through Lib Dem action and pressure.

  • The CUT from £250,000 to £50,000 in the maximum annual pension contribution to receive tax relief – clawing back a staggering £4,000,000,000 (£4bn) that Labour was giving to the rich.
  • The

…

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Posted in Op-eds | Also tagged , , , and | 55 Comments
Mark Pack

The party strategy debate: rolling highlights

By Mark Pack | Sun 13th March 2011 - 10:05 am

Note: If you’re catching up with this post after it was published, read it from the bottom up.

Final result – both amendment and motion passed overwhelmingly. The overall tenor of the debate was more good natured than might have been expected – people did not take the opportunity to express any unhappiness in strident tones, and the party being in coalition with the Tories until 2015 was accepted and expected, explicitly or implicitly, by all speakers. Tuition fees and NHS got mentions, but brief ones. Norman Lamb’s comments about the health debate (see below), however, were unexpected and welcome.

James Gurling, …

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Posted in Conference and Party policy and internal matters | Also tagged , , , , , , , , , , , , and | 1 Comment
Mark Pack

Tom Baldwin and the “triple lock”: you could have read it here Tom

By Mark Pack | Fri 12th March 2010 - 2:12 pm

Today Tom Baldwin in The Times reports on its exciting persistent investigative journalism into the party’s “triple lock” rule for deals with other parties:

The exact wording of this rule, disclosed only after repeated inquiries to Liberal Democrats headquarters this week, sets a high bar for clearing “any substantial proposal which could affect the party’s independence of political action”.

A pedant would point out that it was “disclosed” here back in November. Then it was Steve Richards I took to task (for calling the rule – which was debated in public at party conference – “secret”).

Perhaps you should add us …

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Stephen Tall

5 reasons Nick Clegg should rule out a coalition now

By Stephen Tall | Wed 10th March 2010 - 8:45 am

With most polls showing the next election could result in a hung parliament, there has been various speculation about what the Lib Dem position would be. I think it’s time for Nick Clegg to make an unambiguous statement that the party would not enter a coalition with either Labour or the Tories. Here are my five reasons why Nick should spell this out clearly and simply now …

1. A coalition is a non-starter, so let’s just rule it out now

It’s quite simple: the majority of party members will not for a single moment entertain the idea of a coalition with …

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Mark Pack

Since when is something debated in public, in front of journalists called “hidden”?

By Mark Pack | Thu 26th November 2009 - 9:20 am

Since yesterday, in fact. Because in an otherwise thoughtful piece on hung Parliaments in The Independent, Steve Richards made this comment:

If there is a hung parliament there will almost certainly be no formal coalition government, even if Nick Clegg and Vince Cable would like to join one. Clegg is trapped by what is known as his party’s “triple lock”, a hidden rule that might become of vital relevance. Before entering a coalition he is bound to secure the agreement of his MPs, other national representatives and the membership.

Credit to Steve Richards for knowing about this rule. But “hidden”? It …

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Stephen Tall

That hoary old Hung Parliament chestnut

By Stephen Tall | Tue 17th March 2009 - 8:38 pm

There’s an interesting article by The Independent’s Steve Richards today, focusing – as the media does every three months or so – on the prospect of a ‘Hung Parliament’, and what the Lib Dems would do in such an eventuality.

Actually the article’s a bit broader than that, and I can’t let the opportunity pass without briefly digressing to agree wholeheartedly with his snipe at the Tories’ two key initiatives of the past week: David Cameron’s ‘apology’ for failing to anticipate the economic crisis until way too late (Steve accuses the Tories of “still playing student-like games”); and yesterday’s …

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Posted in Op-eds | Also tagged , , , and | 12 Comments
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