The Conservative Party, led by Prime Minister Rishi Sunak, has announced a new election pledge to introduce the 'Triple Lock Plus' for pensioners. This policy aims to enhance the existing Triple Lock by raising the tax-free allowance for pensioners in line with the highest of earnings, wages, or 2.5%. The initiative is designed to ensure that state pensions remain tax-free, providing additional financial security for retirees. The 'Triple Lock Plus' is expected to save eight million pensioners £100 next year and nearly £300 by 2030, with an estimated cost of £2.4 billion. The policy is part of a broader strategy to appeal to older voters, contrasting with Labour's stance on pension taxation. Since the Conservatives introduced the Triple Lock, the state pension has risen by £3,700, including an additional £900 this year. The new policy is projected to cost £2.4 billion a year by 2030 and will save 750,000 pensioners from paying tax. Critics have labeled the move as a political gimmick, while supporters argue it offers much-needed financial relief to pensioners.
Wednesday's front page: Triple lock plus to save retirees 28p a week on state pension #Tomorrowspaperstoday Latest by @callumcmason: https://t.co/cDIlLU8Dp6 https://t.co/wy48oQ6L5w
Opinion | A political gimmick? No, pensioners deserve ‘triple lock plus’ It is right to commit to ensuring those pensioners with incomes at or below the new state pension should not be dragged into the tax net 🖋 Baroness Ros Altmann https://t.co/4w0QW8TRse
🚨 NEW: The Triple Lock Plus will reportedly save the average retired person 28p a week on the state pension [@theipaper]
After 14 years of Tory governments, the promise of security in retirement is now more precarious than ever. @UKLabour will protect the pension triple lock to give pensioners the certainty they deserve. https://t.co/ScpoyQHWhN
Triple lock plus to save 750,000 pensioners from tax, says IFS In addition to leaving 6% of pensioners completely free from paying tax, the proposal would also boost the incomes of two-thirds of retirees or 7.5 million people 🕯️zero seats🕯️ https://t.co/OUbObvgiKQ
Opinion | The triple lock plus is yet more handouts to wealthy pensioners Bribing pensioners seems to be the only strategy the Tories have left to utilise 🖋 James Sean Dickson https://t.co/N6cAqXNcIQ
Conservative Governments are always best for pensioners. Great reception in the North West of England today for our income tax cut for pensioners with the new Triple Lock Plus. @SarBritcliffeMP @JamesDalyMP @ArnoldSaunders5 @DavidRutley https://t.co/VBxh5FIWTC
I passionately believe that those who’ve worked hard should have security in retirement. Thanks to our Triple Lock, pensions have risen by £900 this year & now we’ll cut taxes by £100. Under Labour pensions rose by just 75p one year and pensioner poverty was through the roof. https://t.co/Sy7xlS7Fd0
"The Tories are keen to woo the grey vote," says Economics & Business Editor @LiamHalligan, discussing the Tories’ “triple lock plus” pledge. “But all they are doing is protecting pensioners from the tax downsides of the government’s own decision to freeze tax thresholds!" https://t.co/pX8kY2qmjw
Tories pledge pension triple lock plus, as Labour insists it's the 'pro-business' party https://t.co/hTVSMWQ5MJ
Conservatives promise to raise tax-free pension allowance via a "Triple Lock Plus" https://t.co/dDHXsvtwf7
State pension 'triple lock plus' tax cut slammed amid older Britons 'struggles': 'Too little, too late!' https://t.co/TFfrcmbuoP #pensions #triplelock #statepension
Rishi Sunak has promised that the Conservative government will not only maintain the "triple lock" on the state pension, but that pensioners will see their 0% tax band rise in real terms too. It's smart politics, but terrible policy. https://t.co/i0anifs2bG
Rachel Reeves has confirmed that if Labour win on July 4th, Retirement Tax bills will land on the doorstep of pensioners across country. Only the Conservatives will protect pensions from Labour’s #RetirementTax with the new Triple Lock Plus. https://t.co/yBQzbpeAQF
General election: Tories announce 'Triple Lock Plus' pension allowance https://t.co/u7usGaiM5E
Rishi Sunak has promised a new "triple lock plus" pledge to pensioners that the state pension will never be taxed under the Tories. Do you support this policy, or is it unfair to younger voters? And tell us why. 📞0344 499 1000 @JuliaHB1 https://t.co/L212Jr7SvJ
✍️I've written for @ConHome on the absurdity of the 'Triple Lock Plus' announced last night. It's another bung to wealthy pensioners at the expense of struggling working-age people. Have a read below👇 @ASI @sam_bidwell @maxwell_marlow https://t.co/P25CHW4Trz
Rishi Sunak pledges £2.4bn tax cut for pensioners with 'triple lock plus' https://t.co/B3bUrYbFK9
Tories’ ‘triple lock plus’ planned tax cut for pensioners a ‘desperate move’ says Labour – UK politics live https://t.co/Ac4zifhGt6
UK general election LIVE: Rishi Sunak hopes to score pensioners vote with new 'Triple Lock Plus' tax cut while Labour is backed by more than 100 business chiefs - everything you need to know from the campaign trail https://t.co/tyfLTRQ7ZQ https://t.co/AmvQIrlfVt
Pensioners have been promised a £2.4bn tax giveaway by the Conservatives as the party battles with Labour to woo older voters The policy, labelled the 'triple lock plus', will cost around £2.4bn a year by 2030, according to the Tories https://t.co/WgXDYiyBg2
State pension 'will never be taxed under the Tories': Rishi Sunak moves to shore up support among older generation with 'Triple Lock Plus' vowing personal allowance will rise at same rate in £100-a-year boost - as Labour admits it WON'T match pledge https://t.co/Yo9nUxOfM3 https://t.co/lURCoSUcrS
🇬🇧 PM: State Pensions Will Never Be Taxed ▫Prime Minister to unveil ‘quadruple lock’ that will keep income for elderly safe ▫@nickgutteridge ▫https://t.co/taPhJqDV1t 👈 #frontpagestoday #UK @Telegraph 🇬🇧 https://t.co/cbNdrHoJbS
The Conservatives have promised to raise the tax-free pension allowance via a "Triple Lock Plus" if they win the general election. Work and Pensions Secretary Mel Stride was asked on #BBCBreakfast if the change was undoing a measure the Government had introduced… https://t.co/yPWvlnPKVA
The Conservatives have promised to cut taxes for pensioners by creating a new "age-related" tax-free allowance called the "triple lock plus". Work and pensions secretary @MelJStride tells @KayBurley more. Full story: https://t.co/RCPeVpy9Xe 📺 Sky 501 https://t.co/TsJEPbcIl7
Morning from the Tory campaign trail somewhere on the M1 🚎 💷 A tax cut for pensioners as Rishi Sunak beefs up the triple lock & applies it to income tax allowances for those receiving the state pension. 👷♂️ Here’s the rub - the allowance will stay frozen for those in work,… https://t.co/shNvmdbqvl
The new ‘triple lock plus’ would ensure pensioners’ tax free allowance rises in line with the highest of earnings, wages or 2.5%. https://t.co/xGPLnxERSu
🗳️ Millions of OAPs promised Triple Lock Plus under Tory plans 🗳️ State pension to be protected by triple lock and age-related personal allowance also to increase 🗳️ Ensures pension doesn't go above the allowance in middle of Parliament Full story 👇 https://t.co/rYdbkLXvrZ https://t.co/VDF4XnSMvc
Rishi Sunak has pledged to cut income tax for eight million pensioners by £100 next year as he seeks to reassure them that he is “on their side” ⬇️ https://t.co/IWQFpxKaBv
Political Correspondent @nickeardleybbc explains the Conservatives' promise to raise the tax-free pension allowance via a 'Triple Lock Plus' if they win the general election. #R4Today
'Will Labour match it?' Rishi Sunak has unveiled plans for a £2.4 billion 'triple lock plus', to cut taxes for pensioners by creating a new 'age-related' tax-free allowance. @Kevin_Maguire questions how the government would pay for it. https://t.co/g7lVc6FeFe
Pensioners will be given more tax breaks from April if the Conservatives win the General Election. Rishi Sunak is promising to bring in a triple lock plus so that state pensions are always tax-free, no matter how much they go up by. https://t.co/zb5E4bd3tX
Tories pledge £2.4bn tax cut for pensioners with ‘triple lock plus’ allowance https://t.co/76XSM4eLEP
The Conservatives have promised to cut taxes for pensioners by creating a new "age-related" tax-free allowance - dubbed "triple lock plus" Read more🔗 https://t.co/ORSV1InBN8
Rishi Sunak pledges 'Triple Lock Plus' to cut tax for pensioners and bring people 'peace of mind and security in retirement' with £100 extra a year https://t.co/Io8AxiewNM https://t.co/RlIWa6EMbl
Rishi Sunak Promises Pension Tax Cuts and Triple Lock Plus in New Election Pledge https://t.co/qQKIzTO4VI
Conservatives promise tax cut for pensioners with 'triple lock plus' Read more🔗 https://t.co/EafdSBaLsV
Under the Conservatives, the State Pension had risen by £3,700 - and is increasing another £900 this year. We introduced the Triple Lock. Now we’re introducing the Triple Lock Plus 👇 https://t.co/KMc01VYNRc
⚠️ UK'S SUNAK PROPOSES TAX CUTS FOR PENSIONERS IN NEW ELECTION PLEDGE Full Story → https://t.co/VoUP8SAtll https://t.co/qmTznbfuNs
Tories pledge 'Triple Lock Plus' pension allowance https://t.co/HkDk5SLWqH
Tories pledge ‘triple lock plus’ tax cut for pensioners in challenge to Labour https://t.co/iZ50gJIoEc
NEW: The Conservatives would upgrade the Triple Lock for pensioners with an extra income tax cut. The new 'Triple Lock Plus' would raise pensioners' tax-free allowance each year. National service for the young, tax cuts for the old. Big difference in the generational offering!
NEW: Sunak targeting Grey vote with a “triple lock plus” for pensioners as he pledges to automatically raise threshold at which they start paying income tax so it always ahead of state pension. No 10 says it’ll save 8m pensioners £100 next year & nearly £300 by 2030 Cost = £2.4bn https://t.co/9cpXi8tggj