𝓤𝓷𝓲𝓽𝓮𝓭 𝓝𝓮𝔀𝓼

Britain has given a resounding thumbs-up to the pensions Triple Lock.

A major new poll shows two-thirds of people want to keep the measure, while younger adults have given it their backing, too.

Almost half (44%) of 18 to 34-year-olds say they support keeping the policy, according to the YouGov study.

The findings are a major boost to the Daily Express’s long-running crusade to protect the Triple Lock.

They also send a massive “hands off” warning to naysayers who say the measure should be scrapped because it’s too costly.

The policy ensures the state pension increases each year in line with whichever is the highest of inflation, average wage growth or 2.5%.

Both the Conservatives and Reform UK have said they will keep it in place at the next general election.

But its future under Labour remains uncertain as the party fights over who will replace Sir Keir Starmer.

Neither Andy Burnham nor Wes Streeting – the frontrunners for the top job – have made their views on it clear.

The overwhelming poll results came as the International Monetary Fund repeated its calls for the Government to ditch the Triple Lock to help tackle the spiralling welfare bill.

Dennis Reed, who has helped lead the charge to protect the Triple Lock, said the polling shows how important the issue is to the British public.

The director of Silver Voices said: “However you cut it, and whatever the question, the public shows that it is strongly in favour of keeping the Triple Lock.

“It is only think tanks linked to the political establishment and the Treasury who keep stirring the pot and heightening the worries of pensioners on modest incomes.

“Those who badmouth the Triple Lock should note that the public would, in fact, support a more generous formula, and by a large majority.”

Mr Reed urged the Government to confirm support for the Triple Lock into the next Parliament.

He added: “Andy Burnham would do himself a world of good in his by-election fight by matching Reform UK’s pledge to do the same”.

Leading think tank, the Intergenerational Foundation, has also called on ministers to reform the uprating mechanism, which is expected to cost £15.5 billion a year by the end of this parliament in 2029.

It says proposed reforms would save £38 billion by 2045.

Over the past decade, pensioners have gained approximately £1,300 per year more than they would have under inflation-only adjustments.

However, the policy faces mounting criticism over its sustainability.

The real-terms expense of the state pension has climbed by 70% across two decades, prompting questions about whether the guarantee remains viable for future generations of taxpayers.

Reform UK’s Shadow Chancellor, Robert Jenrick, said: “It’s a matter of fairness that those who’ve worked hard and paid in are looked after later in life.

“That’s why a majority of voters in all age groups support the triple lock. A Reform Government will cut the billions in waste on migrants, foreign aid for rich countries, and the ballooning benefits bill so we can protect pensioners.”

The IMF on Monday warned that Britain is approaching the limit of higher taxes, calling on Labour to focus on cutting welfare to balance the books.

In a thinly-veiled warning, it suggested that a Burnham premiership risked losing the confidence of financial markets.

The fund suggested that the “domestic uncertainty” of a Labour leadership election risked further hurting growth and investment, as it warned of the consequences of the war in the Middle East.

While the IMF was broadly supportive of the Chancellor’s economic plan, it warned that the UK now had “limited space” to raise taxes further.

The tax burden on households and businesses is on course to rise to a record 38.5% of GDP by the start of the next parliament, following back-to-back tax raids by Rachel Reeves.

The IMF said the UK was approaching the limit of how much it could raise taxes without hurting growth.

It added: “Beyond the planned tax ratio increase until 2030, staff analysis suggests that the long-term scope for further revenue increases is becoming limited unless more fundamental tax reforms are envisaged.

“The scale of rising spending pressures and limited tax space imply that a growing share of the adjustment will likely need to come from expenditure restraint in the longer term.”

It urged Ms Reeves to make “controlling the rising welfare bill” a priority, adding that the Government should stick to its plan to cut borrowing to help “protect fiscal credibility”.

An ageing population, net zero commitments and pressure to ramp up defence spending could already require the equivalent of 6% of GDP – £180 billion – of spending cuts or tax rises to balance the books by 2050.

Mr Burnham sparked jitters in financial markets last year after declaring that Britain must not be “in hock to the bond markets”.

He has also advocated putting energy and water under public control as part of a wider nationalisation drive.

The Mayor of Greater Manchester sought to reassure investors at the weekend that he would stick to borrowing rules, although he stopped short of endorsing the borrowing rules adopted by Ms Reeves.