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Triple Lock to Cost £15.5bn, Threatening NHS Funding

4/29/2026

31 4 Full Breakdown

Summary

Story summary

The Office for Budget Responsibility (OBR) estimates the triple lock will cost £15.5 billion annually by 2029, about three times the original forecast.
Conservative minister Kemi Badenoch defended the policy in Basildon, Essex, and said the government will keep the lock.
Treasury analysts warn the lock could add up to 1.5 percent of national income (£44 billion), competing with NHS spending for older Britons and proposed £6 billion defence cuts.

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Story summary

The Office for Budget Responsibility (OBR) estimates the triple lock will cost £15.5 billion annually by 2029, about three times the original forecast.
Conservative minister Kemi Badenoch defended the policy in Basildon, Essex, and said the government will keep the lock.
Treasury analysts warn the lock could add up to 1.5 percent of national income (£44 billion), competing with NHS spending for older Britons and proposed £6 billion defence cuts.