Iceland boss and Labour peer Lord Walker calls for scrapping triple lock pension system

Summary

Lord Walker, the Iceland boss and Labour peer, has called for the UK's triple lock pension system to be scrapped, arguing it is "profoundly unfair" due to its spiralling costs. Speaking in a House of Lords debate on welfare reform, he joined a growing number of economists and political figures advocating for replacing the state pension mechanism, which increases annually by the highest of average earnings, inflation, or 2.5%.

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bskyIceland boss and Labour peer Lord Walker calls for scrapping triple lock pension systembyteseu.com