Andrew Gwynne, MP for Denton and Reddish, has criticised the Government after it was revealed that working pensioners across the North West are set to be an average of £2,300 worse off over the next two years because of broken Tory manifesto commitments.
In their 2019 General Election manifesto, the Tories made three clear commitments: To keep the triple lock on State Pensions, not to raise the rates of National Insurance and to introduce new measures to lower energy bills.
Since then, the Tories have made the biggest real-terms cut to the State Pension in fifty years, hiked taxes and allowed energy bills to soar.
New analysis from the House of Commons Library shows that working pensioners – who are uniquely hit by all three of these broken Tory manifesto commitments – are set to be an average of £2,300 worse off over the next two years.
It shows working pensioners in the North West will see real-terms reductions in their incomes over the next two years from the broken Triple Lock, soaring energy costs – captured by spiralling inflation – and a Tory tax hike:
- A working pensioner earning £16,000 faces a real-terms reduction of £1,790.
- A working pensioner on the average salary for someone over 60 of £24,900 faces a real-terms reduction of £2,300.
- A working pensioner earning £40,000 faces a real-terms reduction of £3,200.
Labour is reiterating its call on the Government to bring forward an Emergency Budget to urgently tackle the Tory cost of living crisis.
Commenting, Andrew Gwynne said:
“This analysis shows that the Tories are totally out of touch with the challenges retirees and working pensioners are facing across Denton and Reddish.
They’ve broken promises, offered no help with soaring energy bills, and failed pensioners.
We need an Emergency Budget to give pensioners and retirees the security and the respect that they deserve.”
Jonathan Ashworth, Shadow Secretary of State for Work and Pensions, said:
“Boris Johnson has abandoned his promise to help Britain’s retirees with the cost of living crisis.
“The Conservatives have broken the triple lock, just imposed the biggest real terms cut in the state pension for 50 years and clobbered working pensioners with more tax.
“Our retirees – who have contributed so much to our society – deserve better. Labour will stand up for pensioners and older people.”