Restore UK has become the latest political party to announce plans to scrap the Department for Work and Pensions (DWP) state pension triple lock. The move opens up the possibility that the widely discussed policy could be axed should right-of-centre parties gain power.
Leader Rupert Lowe has pledged to end the triple lock as part of the party’s commitment to “inter-generational fairness.” Instead of the triple lock, which guarantees the state pension increases by whichever is highest among average earnings growth, inflation, or 2.5%, Restore plans to peg state pension rises to the Consumer Price Index (CPI) inflation rate.
“The state pension is secure with Restore,” the party’s policy document, The Wealth of Our Nation, states. “However, we will end the triple lock and instead link the state pension to CPI. Pensioners’ incomes will thus be secure in terms of their purchasing power.”
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Mr Lowe acknowledged that scrapping the triple lock would be a “difficult decision” and conceded it might not lead to additional electoral support. Nonetheless, he emphasised the importance of the change for future generations. “These actions are the only way we can leave a better country to our grandchildren than the one handed to us,” he said.
The announcement follows ongoing tensions between Restore UK and other right-leaning parties, including Reform UK. Mr Lowe recently accused Nigel Farage of misrepresenting their private communications, potentially jeopardising talks of a political alliance.
In a statement on X, Mr Lowe said: “I do not want to make private conversations public, but Farage has just done so at a national press conference. He just stated he said to me yesterday ‘Shall we have a call?’
“Sadly, that is just a lie. Yesterday at 10.30 Nigel messaged me, saying the following three words: ‘Will call later’. The evidence is below. I have received no call. Senior Reform figures then went public to rubbish my offer.”
He added, “The offer remains open to Nigel and Reform. Although outright lying about our private conversations does not help that. For Restore Britain, it will always be country before party - ahead of any personal differences or past disagreements we have.”