Rishi Sunak announces ‘quadruple lock’ offering £2,000 a year boost

Millions of OAPs have been promised a £2,000-a-year pay rise by Rishi Sunak if he wins the general election as he guarantees a ‘Super Triple Lock’ or ‘quadruple lock’. Mr Sunak, who will go to the polls on July 4 with the Conservative Party, last night promised the OAP an increase of almost £2,000 a year if re-elected.

Mr Sunak promised to boost the wealth of OAPs with a “Triple Lock Plus” and said people needed to have “peace of mind and retirement security”. Mr Sunak’s manifesto will see both the state pension and allowance rise by triple lock.

The estimated increase in the state pension will be £1,677 a year until 2029, with the tax-free allowance of £275 a year until then. Mr Sunak said: “Thanks to the Tories’ triple lock, pensions have risen by £900 this year and we will now cut their charges by around £100 next year.

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“This bold action shows we stand with retirees.” Department for Work and Pensions (DWP) boss and welfare secretary Mel Stride said: “Only a Conservative government can give pensioners the peace of mind they deserve.

“The working document speaks for itself. The last Labor government completely failed pensioners with a £118bn pension tax hike and an insulting 75p rise in the state pension. Sir Keir Starmer may give them lip service to pensioners, but we know he will always be the same old Labour, putting our pensioners at the back of the queue.”

But Shadow Paymaster General Jonathan Ashworth said: “Why would anyone believe the Tories and Rishi Sunak on taxes after they left the country with the biggest tax burden in 70 years? This is just another desperate move by a chaotic Tory party burning down any remaining facade of its claims to economic credibility.

“Not only have they promised to spend tens of billions of pounds since this campaign began, they also have a completely unfunded £46 billion policy to scrap National Insurance, which threatens the very basis of the state pension.

“Labor will protect the triple lock. But Rishi Sunak plans to reward British pensioners for their loyalty by stabbing them in the back, just as he did to Boris Johnson and just as he did to his own MPs.”