Leaked Lib Dem memo deepens triple lock revolt against Davey

An internal Liberal Democrat document setting out the pros and cons of the pensions triple lock has deepened a growing revolt against Sir Ed Davey, with disgruntled MPs seizing on it to push for a change of position (Sky News).

Prepared for MPs in September, the memo makes no explicit recommendations but proposes cost-saving alternatives, including a double lock. Its analysis says none would have left pensioners worse off in cash terms than in 2016/17.

One Lib Dem MP told Sky News that “the majority” of MPs want the party to back Burnham’s plan.

The leak adds to the pressure on Davey. Tom Gordon, the party’s only Yorkshire MP (Harrogate & Knaresborough), accused Davey of “gaslighting” millennials and urged him to think again, having called his criticism “nonsense”. MP Vikki Slade also backed a rethink. A senior MP accused Davey of “criticising for the sake of opposition”, while a frontbencher said: “Let’s look seriously at better targeted support to protect pensioners from poverty, and focus more on the unacceptable level of children growing up in poverty.”

Burnham plans to “adjust” the triple lock from 2030 to help fund a National Care Service, dropping the earnings link so the pension rises by inflation or 2.5%, whichever is higher — forecast to save about £15bn by 2040. Davey warned it would “put more pensioners into poverty” and unfairly discriminate against younger generations.

The official line: “the triple lock’s work is not nearly done yet”, and that the change “will particularly hurt women, whose private pension pots are worth, on average, only a quarter of men’s”.