Liberal Democrats in government have introduced a triple lock for state pensions. This means every year the basic state pension will rise by either the rate of average earnings, 2.5%, or inflation (depending on which one is highest). This has led to the biggest ever cash increase in the basic state pension. Pensioners on the basic state pension are now £950 a year better off then they were under the last Labour government.
The economic recovery hasn’t been easy, but i’m proud to belong to a party that where possible has balanced using resources with measures that have helped boost the economy such as the largest ever increase in apprenticeships, and measures that seek to create a fairer society such as the Pupil Premium, raising the tax threshold for people on lower incomes and introducing this triple lock for pensioners.