Triple lock: Conservatives look set to have raided pensioners in Gillingham and Rainham out of a total £9,644,703 in just three years

The Conservative government looks set to have taken a total of £9,644,703 from pensioners in Gillingham and Rainham since 2022

The Conservative government is reportedly set to break the triple lock once more by not uprating fully in line with earnings. Instead they will exclude bonuses meaning that pensioners will receive a 7.8% rise in the state pension, but not the 8.5% the triple lock guaranteed them.

Liberal Democrat analysis has estimated that this would amount to a total of £1,054,494 cut for Gillingham and Rainham's pensioners. It comes on top of an even bigger hit that pensioners suffered in 2022 when the government did not uprate pensions in line with earnings as the triple lock prescribes. Instead, they uprated by a lower measure, Consumer Price Index (CPI) inflation.

The effect of both cuts since 2022 could result in an eye-watering hit for Gillingham and Rainham's pensioners of a total of £9,644,703 over three years. It comes as the Liberal Democrats have been the only major party to commit to the triple lock in full ahead of the next General Election.

Stuart Bourne, Medway Liberal Democrat spokesperson said: “To row back on the triple lock would be another in a long list of callous Conservative party broken promises. Pensioners in Medway need to be rewarded for their decades of contributing to our society, not be forced to suffer this Conservative government turning their back on them once again, right in the midst of a cost-of- living crisis.

The triple lock must be maintained and Medway's pensioners must be given the money that they deserve after their years of service. Instead, this out of touch Prime Minister looks set to punish them for his own party crashing the economy."

ENDS