Back to today’s briefing

Story perspectives

Burnham Faces £15.5bn Triple-Lock Crisis, Pensions to 9% GDP

7/10/2026

24 5 Full Breakdown

Summary

Story summary

Prime Minister-designate Andy Burnham will inherit pressure to scrap the pension triple lock.
The Office for Budget Responsibility says keeping the triple lock will cost GBP 15.5 billion by 2029-2030, a level that DeVere Group CEO Nigel Green calls fiscally unsustainable and likely to force reforms.
The OBR projects pension spending could rise from about 5 % of GDP now to 9 % by the 2070s, risking debt of three times the UK economy.

1 of 1

Story summary

Prime Minister-designate Andy Burnham will inherit pressure to scrap the pension triple lock.
The Office for Budget Responsibility says keeping the triple lock will cost GBP 15.5 billion by 2029-2030, a level that DeVere Group CEO Nigel Green calls fiscally unsustainable and likely to force reforms.
The OBR projects pension spending could rise from about 5 % of GDP now to 9 % by the 2070s, risking debt of three times the UK economy.