Mr Johnson is expected to break two manifesto pledges this week in what could be a politically divisive move. The Prime Minister is facing criticism from cabinet ministers and Tory MPs for his plans to increase national insurance by a percentage point, raising £13 billion to overhaul social care and address NHS waiting lists. It has also been reported, however, that Mr Johnson and his Chancellor of the Exchequer, Mr Sunak, could abandon the pension triple lock.
The lock commits the Government to increasing the state pension in line with 2.5 percent, inflation or the rise in wages, whichever is highest.
The end of the furlough scheme has led to an artificial increase in wages of 8.8 per cent as the economy reopens, meaning the government would have to fund an extra £5billion in state pension rises if the policy remains.
Last month, former pensions minister Steve Webb said such growth would increase the state pension from £9,340 to over £10,000 a year.
He told the Independent that the figures will “pile pressure on the Chancellor, as he will want to stick to his triple lock policy,…
