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\t\tImage generated by Chat GPT\t<\/p>\n\t\t\tThursday 06 November 2025 5:57 am
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\t\t\tThursday 06 November 2025 9:54 am\n\t<\/p>\n
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Tom Harwood presents a pensions policy that is both money saving and popular: promise that Pensions will NEVER go down in cash terms; Pensions will NEVER go down in real terms; Pensions will RISE every year; and 4. Pensions will GO UP in line with CPI inflation<\/p>\n
This week Rachel Reeves rolled the pitch of doom, primed the pump of pain and buttered the parsnips of despair.<\/p>\n
Despite assuring my colleague Christopher Hope that we shouldn\u2019t cancel our turkey order this Christmas, she made it clear that \u201cwe will all have to contribute\u201d to fund her spending spree. In her last budget the Chancellor raised taxes by \u00a340bn and spending by \u00a370bn a year.<\/p>\n
By the end of this parliament, spending on working age disability benefits is due to soar by \u00a314bn, the amount being spent on the NHS will rise by \u00a329bn, and the state pension is due to cost the taxpayer \u00a315.5bn more due to triple lock commitments.<\/p>\n
Both the Conservatives and Reform have set out how they would save billions from Britain\u2019s benefits bloat, particularly limiting handouts for milder mental health afflictions and returning to in-person assessments.<\/p>\n
Sadly the government has given up on substantial welfare savings, with the Timms Review <\/a>into personal independence payments last week admitting in its terms of reference it will \u201coperate within the OBR\u2019s projections for future PIP expenditure\u201d. That\u2019s the review established to save money now apparently committing to the very \u00a314bn bloat it was established to limit.<\/p>\n There is, however, one area where all parties have dipped a toe into the treacherous waters of saving money. Conservative Shadow Chancellor Mel Stride has said the pensions triple lock is unsustainable in the long term. Pensions minister Torsten Bell has argued for outright triple lock abolition. And at the start of this week we saw reports that Reform is toying with the idea of triple lock refinement too.<\/p>\n Four lock are better than three<\/p>\n So in the interests of cross party unity, national harmony and indeed selfless service to my country \u2013 let me present a money saving AND popular policy for all the parties to adopt, no credit needed: A state pension quadruple lock.<\/p>\n Stay with me here, but let\u2019s first acknowledge that all pensioners rightly want to ensure that their pensions are safe and will keep up with the cost of living.<\/p>\n \t\t\t\t\tRead more<\/p>\n