Hello and welcome to Broconomics.

Now, in this episode I thought I'd talk about the triple lock pensions,

because that seems to be a bit of an issue at the moment.

Well, it was really a bit of an issue a week ago

when reform came out and announced that they were going to safeguard the triple lock,

which was always meant to be a very temporary measure.

It was supposed to be a short run measure that lasted for a couple of years in order to

adjust a perceived deficit in pensions.

But the problem is, is once you introduce something, it becomes nigh on politically impossible to ever get rid of it.

And thus, you go up the ratchet, which is a little bit unfortunate.

So we've been talking about triple-up pension why it is quite mental.

And it's kind of incontrovertible when you get into it because basically it will end up swallowing everything

if the NHS doesn't get there first. The NHS and the triple lock pensions will basically

be like, was it Godzilla and the other one, moth, mouser. Whoever it is at Godzilla fights,

it's going to be them two competing to take over every fibre of our being

in this country.

And I mean, our pension system is not wildly different really at the end of the day

to any other G7 countries.

So even if you're not English, you can probably watch this one because, you know,

you can see the folly

of making any government line item something that cannot be touched when it's this generous.

So let's start off a bit of background on UK pensions. I think they were introduced by Lloyd George

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