Health and Social Care

Lord Foulkes of Cumnock Excerpts

Thursday 9th September 2021 Lords Chamber

[Baroness Evans of Bowes Park (Con)]

I am afraid I will have to get back to the noble Baroness on that.

[Lord Foulkes of Cumnock (Lab Co-op)]

My Lords, under cover of this announcement, the Government broke another manifesto promise by abandoning the triple lock on pensions. With the costs of energy and food projected to rise substantially, how are pensioners who depend on the basic pension going to survive?

[Baroness Evans of Bowes Park (Con)]

I am sure the noble Lord will understand that, given the statistical anomaly that has led to average wage growth being 8%, it is just not fair to raise pensions by this figure. For one year only we are moving to a double lock and increasing pensions by the higher of inflation or 2.5%. We will then return to the triple lock. Since the triple lock was put in place in 2011, the state pension has increased by 3% a year; it is now at its highest level relative to earnings for 34 years. The number of pensioners in absolute poverty has fallen by more than 200,000 in the last decade. I do not dispute that this will impact some people, but I think that, for one year, in the light of everything the country has gone through, it is fair and people will agree with it.