Labour MPs Push to Scrap State Pension Triple Lock Amid Economic Fears

Labour MPs are urging Andy Burnham to consider ditching the state pension triple lock from their next general election manifesto, citing concerns that it risks consuming the UK economy.

The triple lock guarantees a rise in the state pension each year, whichever is highest between inflation, wage increases, or 2.5 per cent.

However, with high inflation in recent years leading to ballooning costs of around £146bn annually, nearly half of welfare spending and more than double the entire defence budget, there are growing calls for reform.

Senior economists have warned that without change, the policy will continue to eat into the British economy. Paul Johnson, former director of the Institute for Fiscal Studies think-tank, said politicians must stop pretending that the mechanism 'can carry on forever' and acknowledged that it is unsustainable in its current form.