Dr Neil Hudson MP who has consistently stood up for the Triple Lock in Parliament, has welcomed the Conservative Government honouring the policy which is boosting the state pension for 116,900 pensioners across Cumbria.
By sticking to the plan, and more than halving inflation from 11.1per cent to 3.4 per cent, the Conservatives have been able to uprate pensions by 8.5 per cent for people across the country.
This follows arecord10.1 per cent increase in 2023-24. Since the Conservatives came to power in 2010, and introduced the Triple Lock, the state pension has increased by over £3,700, helping to lift 200,000 pensioners out of poverty and ensuring pensioners have dignity and respect in old age.
The uprating of the state pension is in addition to further support pensioners receive such as Winter Fuel Payments and Cold Weather Payments to support with energy bills.
The Conservatives have also confirmed the Triple Lock will be in their upcoming manifesto, unlike the Labour Party who cannot say what they would do with pensions–causing uncertainty for millions of pensioners.
Dr Neil Hudson MP said:
“The Conservatives introduced the Triple Lock in 2011 to ensure pensioners receive dignity and respect in old age – it has helped lift 200,000 pensioners out of poverty and assures peace of mind for millions of pensioners.
“That is why I am delighted the Conservative Government will boost the state pension by £900 this year, increasing the income of 116,900 pensioners in Cumbria.
“This will ensure pensioners’ incomes are protected as the Conservatives stick to the plan and strengthen the economy, helping to secure a brighter future for pensioners and families across the country.”
Chancellor of the Exchequer, Jeremy Hunt MP added:
"Because we stuck to the plan, the economy has turned a corner–inflation has fallen from 11.1 per cent to 3.4 per cent, wages are rising, mortgage rates are starting to come down and debt is on track to fall as a share of the economy.
“That is why this April we are cutting the double tax on work, putting £900 back in the pockets of the average worker, freezing business rates, boosting pensions, cutting the cost of childcare and delivering a record increase to the National Living Wage.
“By sticking to the plan, the Conservatives will deliver a stronger economy to build a brighter future. Labour cannot say what they would do with the economy because they do not have a plan–they would take us back to square one.”
