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More than 16,000 pensioners in Finchley hit by Conservative broken promise on triple lock

September 21, 2021 5:33 PM

Money

The Conservatives decision to suspend the "pensions triple lock" will impact 16,364 state pensioners in Finchley and Golders Green this winter, new figures from the Liberal Democrats show.

In Parliament on Monday, Conservatives - including Finchley's MP Mike Freer - voted to suspend the triple lock, a rule that means that state pensions must rise in line with whichever is highest of inflation, average earnings or 2.5%.

By doing so, Conservatives broke the deal they made to voters in their own manifesto, where they promised to keep the triple lock in place until 2024.

The blow to pensioners comes just weeks after Boris Johnson led his MPs to back a pledge-busting tax hike on National Insurance.

Liberal Democrats have warned that the Conservatives are "turning their back on local elderly residents", many of whom are living in poverty.

The figures, based on analysis by the House of Commons Library commissioned by the Liberal Democrats, show that 12.2% of state pensioners in Finchley & Golders Green will be hit by the government's broken promise.

The data also show that 2,240 pensioners in the area are benefiting from state Pension Credit, which is given to the poorest pensioners.

The Liberal Democrats tabled an amendment in Parliament to the Social Security Bill, which called for additional support to address the impact of the pandemic on the two million pensioners currently living in poverty, and for making the uplift to Universal Credit permanent.

Labour abstained on the vote, making the Liberal Democrats the only major UK-wide party to stand up for pensioners and oppose the government's broken promise to them.

Cllr Gabriel Rozenberg, Leader of the Barnet Liberal Democrats Group, said:

"Local Conservatives are taking pensioners for granted. Their broken promises will hit pensioners in Finchley and Golders Green hard in the pocket.

"The government is turning its back on local elderly residents, who risk no longer being able to heat their homes this winter as energy costs spiral.

"Our pensioners deserve a fair deal. The triple lock was a cast iron guarantee that vulnerable elderly people were relying on.

"Liberal Democrats are demanding that the government supports the many pensioners in our area living in poverty and ensure that we don't return to the days of the 75p rise to the state pension."