Member

I just want to say we have to consider this change in the round. This is not the only thing the Government are doing for pensioners. We have committed to keeping the triple lock, not just for this year or next year but for the whole five years of this Parliament. That means pensioners every single year will find their benefits going up and up, because increases are based on the previous year; they go up and up. Despite the grim finances, we have done that and 12 million will see their state pension going up year on year throughout this. Last year, it went up by £970; this year, the new state pension went up by £900. If the ONS figures are confirmed, next April it will go up by another £460. This is a significant difference. I do not have time to take my noble friend Lord Davies on, but I think he is wrong in his calculations on the triple lock. I am happy to explain to him why over a decent sized gin and tonic afterwards.