Pensions triple lock scrapped for millions of Brits
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There were few mentions of the elderly in today’s statement on the Government’s plans for the next 12 months. While there were pledges to continue to help with the cost of living, new measures to help pensioners were absent.
Prince Charles, standing in for his mother in delivering the Queen’s Speech, told MPs and peers: “The Government’s priority is to grow and strengthen the economy and help ease the cost of living for families.”
But there was no announcement of planned legislation to specifically address the issue among the 38 new bills outlined in the speech.
Pensioners are suffering from a real terms cut to their monthly income due to the Government suspended its triple lock pension pledge last autumn.
In their manifesto, the Conservatives promised to increase the state pension each year by 2.5 percent, average wages, or inflation.
The impact of the furlough scheme during lockdown meant average wages rose last year by 8.8 percent, with the Government saying the “anomaly” meant that it would be wrong to increase pensions by the amount.
Instead, they suspended the triple lock mechanism for 12 months and agreed to increase pensions by 3.1 percent.
Inflation has since skyrocketed to 6.2 percent, with fears it will be in double figures by the end of the year.
Campaigners had been calling the Government to use the Queen’s Speech to unveil measures to help ease the burden on pensioners.
Dennis Reed, director at Silver Voices that advocates issues on the behalf of over 60s, told Express.co.uk: “It was so obvious over the last few weeks that the Government is doing very little to support older households as such.
“There’s been no effort by the Government to bring out a specific support package for older people, older people weren’t mentioned in Rishi Sunak’s last support package.
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“Everything is focused on working families and supporting working families.
“Of course they need to be supported but there is no support for those who are no longer working because they’re retired.”
He added that many pensioners felt “cast by the wayside” by the Government.
In remarks to accompany the Queen’s Speech, Me Johnson said “no government can realistically shield everyone from the impact” of the cost of living crisis.
The Prime Minister continued: “It is right that we continue doing whatever we can to ease the burdens people are grappling with now, supporting the hardest hit with £22billion of help to address the cost of living and cutting hundreds of pounds off household bills.
“But we must also remember that for every pound of taxpayer’s money we spend on reducing bills now, it is a pound we are not investing in bringing down bills and prices over the longer term.”
Speaking after the Queen’s Speech, Chief Secretary to the Treasury Simon Clarke suggested there would be no more help on offer until the Budget in the autumn.
He said: “The autumn is when the cost of living is going to be most particularly in focus.”
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