Anna Wise

Officials warn that the UK’s state pension triple lock could place significant long-term pressure on public finances after Andy Burnham signalled support for maintaining the policy. The Office for Budget Responsibility projects state pension spending could rise from 5% to 9% of GDP by the mid‑2070s, contributing to a potential surge in national debt. The OBR estimates the triple lock will add £15.5 billion annually by 2029–2030 and urges early action to prevent debt from reaching unsustainable levels.