Andy Burnham issues triple lock update amid huge uncertainty for state pensioners

Andy Burnham has appeared to reaffirm his support for the state pension triple lock, a policy that has faced criticism from economists and fiscal experts over its long-term cost.The former Manchester Mayor, who is now the MP for Makerfield, took to Reddit on Friday to answer a user's question in a QA.One user asked: Thanks for the AMA Andy, is it time to abolish the triple lock? Or at least have that discussion?Mr Burnham responded: I appreciate there’s a lot of debate about this but it is important that the commitment in the manifesto stands. TRENDING Stories Videos Your Say It indicates that the highly touted incoming Prime Minister believes Labour should honour its manifesto commitment to retain the triple lock despite ongoing debate about its affordability.The triple lock guarantees that the state pension increases each year by the highest of average earnings growth, inflation or 2.5 per cent.It has been criticised by a number of economists and think tanks, which argue that it increases pension spending over time and adds pressure on the public finances.The Office for Budget Responsibility (OBR) has previously described the long-term impact of the triple lock as unsustainable for public sector debt.The fiscal watchdog has also said the policy has proved significantly more expensive than originally forecast when it was introduced by former Chancellor George Osborne.LATEST DEVELOPMENTSAndy Burnham could raise more than £1billion by 'blocking wealthy retirees from the state pension''Ed Miliband has made Net Zero politically toxic', Labour donor Dale Vince claimsState pension warning as HMRC writes to over 370,000 Britons over missing paymentsDespite those concerns, the triple lock has continued to receive support from the UK's main political parties because of its popularity with many pensioners.Mr Burnham also backed Chancellor Rachel Reeves' proposal to ensure pensioners whose only income is the state pension do not pay income tax when pension payments rise above the £12,570 Personal Allowance.Speaking to The i Paper, Mr Burnham said abandoning Labour's manifesto commitment would be very damaging for the party.He also referred to the Government's decision to restrict winter fuel payments, arguing the issue continued to arise during conversations with voters in Makerfield.It still comes up on doorsteps a lot here in Makerfield, Mr Burnham said.The mayor also argued that ministers should address the growing number of pensioners becoming liable for income tax as frozen thresholds coincide with annual increases to the state pension.Mr Burnham has also outlined a number of broader policy priorities, including proposals on taxation, defence spending and public ownership, as speculation continues over his future role within Labour.Sarah Coles, head of personal finance at AJ Bell, said Mr Burnham had mastered the art of the non-specific, positive answer, making it difficult to assess how his policies would be implemented in Government.Analysts at Pantheon Macroeconomics said a number of Mr Burnham's proposed policies could increase pressure on the public finances, adding that any deterioration in the fiscal position would likely emerge gradually rather than immediately. Our Standards: The GB News Editorial Charter