Stephen Morgan MP has warned that abandoning the 2019 Conservative Manifesto commitment to the triple lock on state pensions for the second year in a row could leave 13,023 pensioners in his constituency, Portsmouth South, £899.23 worse off on average, according to new analysis published today.
New analysis from the House of Commons Library, commissioned by Labour, shows that pensioners in Portsmouth South face an average cut of £407.41 in 2023/24 if the Conservatives’ manifesto commitment to the triple lock is broken again when pensions are uprated in April 2023.
The loss is even larger when considering what the state pension would have been had the triple lock not already been broken in 2022. Taking this into account, pensioners in Portsmouth South could be £899.23 worse off overall, compared to what the state pension would have been if the triple lock were applied in 2022 and 2023.
Commenting on the figures, Portsmouth South MP, Stephen Morgan, said:
“The Tories already betrayed pensioners over the Triple Lock last year, and it is appalling that they are considering this once again.
“They made a dangerous gamble with the economy, and are now asking pensioners in Portsmouth to pay the price.
“Pensioners can’t trust the Tories. Labour will always protect pensioners, working people, and those who need support the most.”
Commenting, Shadow Work and Pensions Secretary, Jonathan Ashworth MP, said:
“The Tories have crashed the economy and are threatening to make pensioners pay the price.
“Today’s vote is a key test for Tory MPs: Will they keep their election promise or once again betray the pensioners they’re supposed to represent?
“Older people have already endured the largest ever real-terms cut to their State Pension and now face being another £440 worse off under the Tories.
“Labour will block any attempt by the Tories to break the Triple Lock for next year.
“Labour will always be on the side of pensioners, who have given our country so much and who deserve security and dignity in retirement.”
