Should the UK abolish the triple-lock?
Interestingly, Andy Burnham took part in an “Ask Me Anything” thread on Reddit the other day, and the most common topic raised by Redditors was the triple-lock. The thread is here and the top-voted comment, which Burnham didn’t reply to, was this:
Why is the Triple Lock a defensible position when 1/4 Pensioners are millionaires, many are significantly well off, children are in poverty at far higher rates, and we are running a substantial deficit in a low growth economy?
Why, in your view, is this fair on younger workers who will not benefit from this unsustainable policy due to its long run negative impact on national debt and fiscal headroom?
we’re attacking each other. aboloshing the triple lock won’t save us, just like gdp growth nor benefit cuts won’t save us. the tyrants are the problem. living in tyranny won’t go away by taking aim at other people who don’t hold institutional power
i am ambivalent towards triple lock. it may not be sustainable, but it’s not the most pressing problem right now. it’s another distraction, like immigration - blame the immigrants, blame the old people, when we really should be blaming the ultra wealthy. (of course, it’s not either or. cutting triple lock needs to happen eventually, but it’s not the top of the priority list).
blame the old people, when we really should be blaming the ultra wealthy
This is part of the problem.
Why is it beyond any government’s wits to say, “you’re a relatively well off pensioner (or person for that matter)you don’t need to be triple locked”. Or “you’re a massively well off family you don’t need the extra help”. And spend the money elsewhere like giving to people who are genuinely hard up and struggling. It’s not an unsolvable problem.
Oh but the votes. Yes of course how silly of me.
