Sunak issued a grim warning as he prepares to abandon the state pension triple lock guarantee.
The removal of the state pension triple lock, according to BORIS JOHNSON and Rishi Sunak, will be the final straw for many Conservative supporters.
In the aftermath of the pandemic, the Treasury is trying to figure out how to keep its 2019 manifesto vow. The Conservatives vowed at the last election to keep the triple lock on state pensions, which was initially implemented under the 2010 coalition government.
The idea sees state pensions increasing by 2.5 percent each year, or the higher of inflation or average earnings growth.
Ministers and Treasury officials are concerned that the pandemic has skewed the rise in average salaries.
Because of the large number of individuals on furlough since March of last year, average salaries are expected to grow by as much as 8%.
Every year, the increase would add more than £7 billion to the expense of public pensions.
To avoid the huge compensation, Mr Sunak is said to be considering changing the formula.
However, campaigners have warned that the Conservatives’ choice will enrage already disgruntled retirees.
Dennis Reed, director of Silver Voices, which advocates on problems affecting the over-65s, told This website, “Lots of older Conservative voters in our membership are rapidly feeling unhappy.”
“Members are writing to me, saying, ‘We need to do something about this,’ because they believe the Conservative government no longer represents them.
“It’s always said that older folks are taken for granted.
“They believe that their votes are taken for granted.”
The argument about the future of the state pension triple lock is taking place at the same time as the BBC’s transition period for free television licenses is coming to an end.
The BBC used to provide over-75s a free license, but they lost it last year.
The government has slammed the broadcaster’s decision on numerous occasions but has taken no action.
Mr Reed added that the Prime Minister’s refusal to propose a plan to address the skyrocketing costs of social care, as well as government intentions to raise the age of compulsory free medicines, had sparked resentment.
“There’s a quadruple-whammy,” he explained. Prescriptions are free, TV licenses are free, there is no social care plan, and now there is a triple lock.
“I’m starting to realize that it’s irritating Conservative voters.”
“We saw in the Chesham and Amersham by-election result that traditional Tory people felt overlooked by the.”Brinkwire Summary News,” he said as a warning to the government.