British Chambers of Commerce urges Burnham to drop state pension triple lock
The British Chambers of Commerce is calling on Andy Burnham to eliminate the state pension triple lock, saying it would free over £3 billion for business investment.
In a budget submission, the British Chambers of Commerce urged Deputy Mayor Andy Burnham and Chancellor John Healey to abandon the state pension triple lock, estimating savings of more than £3 billion over two years. The organisation says the money could be used to cut National Insurance for under-25s, reduce entry-level hiring costs and support young people entering the workforce. It notes that the upcoming pension rise, calculated on wage growth, would increase the full pension by roughly £504.
The BCC also proposes a broader pro-growth package, including lower business rates, energy cost relief, and measures to help SMEs export, particularly to the United States. Director General Shevaun Haviland emphasized that easing fiscal pressure on firms is essential for job creation and investment. The chamber stresses that the government’s fiscal constraints require targeted spending to revive confidence and stimulate the economy.
How the sides frame it
MODERATE AGREEMENTAll camps report the British Chambers of Commerce’s call to replace the triple lock with inflation-linked rises to free about £3.3 billion, but left and centre outlets stress broader pro-growth reforms while the right-leaning outlet emphasizes tackling youth unemployment and long-term welfare savings.
LEFT
Business-focused coverage frames the proposal as a way to free billions for youth National Insurance cuts and a wider pro-growth agenda.
CENTER
Centrist coverage frames the call as a fiscal adjustment to free funds for lower National Insurance rates for young workers and to boost business confidence.
RIGHT
Right-leaning coverage frames the push to scrap the lock as a means to save billions, cut youth National Insurance, and address youth unemployment while reducing future welfare outlays.
The left emphasises
- save £3.3 billion over two years
- redirect savings to lower National Insurance for 21-24-year-olds
- broader pro-growth package including lower business rates and export support
The right emphasises
- abolish triple lock to generate £3.3 billion
- redirect funds to cut NI for 21-24-year-olds to address youth unemployment
- potential nearly £10 billion long-term welfare savings
How this story developed
- Sep 3 Coventry Building Society to Raise Fixed Mortgage Rates for All Customers Starting Monday
- Sep 8 Average fixed‑rate mortgage figures have risen to 5.63% (two‑year) and 5.68% (five‑year) while house‑price growth turned negative in August.
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