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🗓️ 8 July 2021
⏱️ 11 minutes
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0:00.0 | The Spectator is searching for the UK's brightest entrepreneurs to enter the Spectator Economic Innovator of the Year awards in partnership with Charles Stanley Wealth managers. |
0:09.1 | If you have a business that disrupts an existing market, a smart new way of doing things, or something that has incredible social impact, then apply by the 9th of July at spectator.com.com. |
0:22.6 | Hello and welcome to Coffee House Shots, the Spectator's Daily Politics Podcast. |
0:27.1 | I'm Cindy Yu and I'm joined by Isabel Hardman and James Sorsight. |
0:31.0 | So this morning, the Chancellor Roshu Sunaq was questioned on whether or not he would |
0:34.7 | stick to the pledge of the pension's triple lock, |
0:43.2 | which is where state pension is upgraded every year in line with either average earnings or the CPI or by 2.5%, whichever is higher. |
0:46.9 | And Rishi Sunak didn't seem to commit to sticking to that. |
0:49.5 | Here's what he had to say. |
0:51.4 | Well, on the triple lock is government policy, but I recognize people's concerns |
0:57.1 | about what that might mean, given some of the numbers that are being put around. I would say |
1:03.4 | that those numbers are speculation at this point, and we don't know for sure what will happen. |
1:07.8 | But what I can say is that we will approach these decisions with |
1:12.7 | fairness in mind. Fairness, both for pensioners but also for taxpayers. Isabel, what did you make |
1:18.9 | of that? Yeah, so this is the big debate that's been going on in the Conservative Party. I mean, |
1:24.5 | there's been a big debate for a long time about whether the triple lock is actually something that the Conservatives should have committed to in terms of it being a tall financially sustainable or indeed fair on the younger generation of voters who will not benefit from it. |
1:39.6 | But the particular problem at the moment is that the state pension could rise by 8% from next year. |
1:49.4 | And I mean, this would obviously cost the government a huge amount of money. |
1:53.0 | It would also be something that, again, intergeneration leave would be quite difficult to justify, |
1:59.5 | particularly if you're removing the £20 a week uplift to universal credit, |
2:04.3 | so people who are in work who are really struggling to make ends meet |
2:07.5 | and not getting the support that they say they need, |
... |
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