Briefing: Five ways the Conservative Party has betrayed pensioners

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• Hitting 8 million pensioners with an average £1,000 stealth tax hike: According to the Resolution Foundation, the freezing of tax thresholds will mean the average taxpaying pensioner will lose around £1,000 by 2027-28. All 8 million taxpaying pensioners will see their taxes increase, by an average of £1,000 – an £8 billion collective hit (Resolution Foundation briefing, March 2024, p.24).

• Dragging 1.6 million pensioners into paying income tax: House of Commons Library research commissioned by the LiberalDemocrats has found that by 2027/28, 1.6 million additional pensioners will be paying income tax compared to if the Personal Allowance had been increased in line with inflation. Full research available here, first reported by the Telegraph.

• Breaking their manifesto pledge on the triple lock: The Conservative Party suspended the triple lock in 2021, breaking another manifesto pledge (ITV News).

• Breaking a manifesto commitment to fix the social care crisis: Successive Conservative Governments have promised to publish a plan to improve social care. Alzheimers UK found that families are being forced to shoulder 63% of the cost of dementia care - equivalent to £51,000 a year on average (reported by The i). 

• Breaking a promise that no-one will have to pay their house to pay for care: Boris Johnson pledged in 2019 that no-one would have to sell their house to pay for social care under a Conservative government (Telegraph). In 2020, more than 17,000 pensioners were forced to sell their homes to pay for social care (research by Money Mail reported in the Mail). 

ENDS