Thank you do much for sharing.
John McDonnell MP
@johnmcdonnellmp.bsky.social
Elected Labour Member of Parliament for Hayes & Harlington, former Shadow Chancellor.
The triple lock proposal is for after the next election but investment in home/personal care is needed now & not just for pensioners.So let’s have discussion about the triple lock whilst also urging action in the forthcoming budget to bolster funds of local authorities to provide home care now.
5. Why give this gift to Reform & the Tories when it won’t raise anywhere near the funds for a national social care service & when there are so many alternative methods of securing these resources through a series of tax reforms that would introduce a fairer taxation of wealth.
4. The government’s commitment for the pension to hold its value relative to earnings means pensions will stagnate at the current 30% of earnings, one of the lowest levels in Europe with the opportunity lost to increase this rate. 5/7
3. This was especially needed in a long period of low wages when for many earnings have been effectively frozen since 2008/9 and so as a result we have had a pension linked to very low earnings. 4/7
2. The triple lock offered not just protection against inflation but the possibility of improving the relationship with earnings and making up some of the lost ground.3/7
The triple lock issue is a good example. The Left’s support for the triple lock was because : 1. Pensions are abysmally low already in relation to earnings as a result of Thatcher breaking the link between pensions and earnings eroding the value of the pension over time.2/7
Andy Burnham’s speech yesterday was great & much welcomed because it addressed much of the agenda set by the Left over recent years. The role of the Left now will be to engage constructively in discussions over how & how far this agenda will be delivered & how much more is needed. 1/7
