The Liberal Democrats insisted on the triple-lock for state pensions being part of the Coalition Agreement back in 2010, suggested it would only cost £50m per year. 7 years later, it is costing the government over £8bn and ensuring the necessary task of curtailing the UK’s spiraling welfare budget fell mainly on the working age population, writes Daniel Mahoney in The Times, 20 October 2017.
In his report, ‘Did Clegg create the conditions for Corbyn?’, Mahoney calculated that if the state pension had been uprated by CPI inflation it would have retained its purchasing power, while saving the government money and enabling them to cut taxes or increase spending on social care.
Read Daniel’s full piece for The Times here.
Date Added: Friday 20th October 2017