Shadow pensions minister Helen Whately said the Labour government “will live to regret” scrapping the state pension triple lock - also casting doubt on the feasibility of raising auto-enrolment (AE) contributions and issuing a warning over further tax relief changes.
Speaking at the Pensions UK Annual Conference yesterday (14 October), Whately reaffirmed the Conservative Party's commitment to the triple lock and said that prime minister Andy Burnham has created a new, bigger financial challenge with his commitments on social care. She said the economic burden on employers and the cost of living posed a "huge problem" to proposals to increase default contributions – asking "where would the money come from to do that?". Instead, she argued that driving economic growth by cutting regulation and reducing the tax burden on businesses would improve pens...
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