\n In an interview with City AM<\/a>, the current head of the British Chambers of Commerce said that the \u201cthe fiscal arithmetic doesn\u2019t lie\u201d as he argued for the controversial change.\n<\/p>\n \n Just before the Makerfield by-election which propelled him back to the Commons<\/a> and almost certainly into Downing Street, Burnham ruled out scrapping the triple lock<\/a>, which requires that the state pension rises every year by the rate of inflation, wage growth or by 2.5%, whichever is highest.\n<\/p>\n \n \n Haldane said: \u201cI don\u2019t know when the moment will come politically, I don\u2019t know when the political will can be summoned, to tackle this, but I think the vast majority of people would say it does need tackling, and given our strained fiscal times.\u201d\n<\/p>\n \n The triple lock was brought in by then-chancellor George Osborne during the Coalition government in 2011 and is estimated by the public finances watchdog to cost three times as much as was expected when it was introduced.\n<\/p>\n \n READ MORE: Scottish broadcaster to stand trial accused of rape and multiple sex offences<\/a>\n<\/p>\n \n Haldane said there was scope for reform of the policy under a Burnham government because the debate around the triple lock had \u201cshifted\u201d in recent times with former PM Tony Blair and ex-chancellor Jeremy Hunt calling for it to be binned.\n<\/p>\n \n Burnham has performed U-turns on a number of big issues in recent weeks.\n<\/p>\n \n He walked back comments he had made suggesting that Waspi women were entitled to “recompense”<\/a> for missing out on the state pension until later in life due to rushed changes.\n<\/p>\n\n<\/p>\n