Pensions Triple Lock

Steve Darling Excerpts

Tuesday 13th October 2026 Commons Chamber

[Madam Deputy Speaker]

I call the Liberal Democrat spokesperson.

[Steve Darling (Torbay) (LD)]

I thank the Secretary of State for sharing his statement in advance. The Liberal Democrats have a proud history around the old age pension. In fact, it was Asquith and Lloyd George who introduced it in 1908. Then in came Margaret Thatcher in 1980 and broke the link with earnings, and that sadly remained for 30 years. Sadly, the Brown and Blair Governments did not ride to the rescue during that period of time with regard to the link with earnings. It took the Liberal Democrats introducing the triple lock when they returned to government in 2010 to start tackling pensioner poverty and drawing it to a conclusion.

The triple lock has been a powerful tool for tackling pensioner poverty. It has almost drawn together the gap between males and females in respect of the state pension. It has helped some of the most vulnerable people receiving pensions. Looking to the future, it ensures that there is a solid foundation that people can build on when considering their future pension savings. That does not detract from the fact that there continues to be a cost of living crisis and that there are many people who are not saving enough towards their pensions. There is an assumption within the system for lots of our society that people should be saving towards their pensions.

We have some serious questions to put to the Secretary of State. We would welcome the Secretary of State sharing any impact assessment on pensioner poverty that the Government have undertaken. In respect of social care, the Institute for Fiscal Studies has identified that the savings from within these proposals do not cover the finances that the Government have suggested. Is the IFS lying?

[Madam Deputy Speaker]

Order. For future reference, Mr Darling, you were over time by 30 seconds.