Boring Money chief executive Holly Mackay has backed the government’s plans to tweak the triple lock on pensions to help pay for Prime Minister Andy Burnham social care proposals.
Speaking at his maiden Labour Party conference in Liverpool, Burnham said he wants to end the triple lock to leave funds available to create a NHS-style care service in England.
Mackay said: “Many politicians have kicked this explosive can down the road, but I welcome the Prime Minister’s bold decision to tackle it.
“Bluntly, the nation is pretty broke and we need to have more honest conversations about what is sustainable, what is fair and what we’re all willing to pay for.
“The Triple Lock is hugely divisive but it needs reform. State Pensions need to be protected from inflation but it is difficult to make the case that they should continue to increase by wage inflation and/or 2.5 per cent as well.
“This policy is unfair to younger generations, indeed many of our older readers acknowledge this generational unfairness and accept that the time for reform has come.”
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