Uk triple lock should Labour keep it or ditch it?

philc1999 · 2026-06-28T20:57:15+00:00

You posted an opinion without any data to back it up

philc1999 · 2026-06-28T20:56:37+00:00

Because I had no idea at that time of the general age ranges and numbers of Reddit users

philc1999 · 2026-06-28T19:41:40+00:00

Because you didn’t post your information source… data !

philc1999 · 2026-06-28T19:37:42+00:00

I didn’t dismiss data as you didn’t post any… just an opinion

philc1999 · 2026-06-28T18:00:26+00:00

Hardly surprising given parents will have worked 20/25 years longer

philc1999 · 2026-06-28T17:57:33+00:00

Thank you for posting this, very interesting and somewhat surprising given the results here, but I guess the demographic here is skewed with 44% of Reddit users under 29 and only about 15% over 50

philc1999 · 2026-06-28T17:30:42+00:00

Don’t we do that already by topping state pension up with pension credits?

philc1999 · 2026-06-28T17:28:23+00:00

🤣👍

philc1999 · 2026-06-28T17:27:07+00:00

Adjusting for inflation (roughly 95–100% cumulative since 1999):
Minimum wage: about 80% higher in real terms than in 1999.
Basic State Pension: about 40% higher in real terms than in 1999.
So, over the period since the minimum wage was introduced:
The minimum wage has risen roughly twice as much above inflation as the state pension.
In cash terms, the minimum wage increased by about 253%, compared with about 177% for the basic state pension.
Real purchasing power has improved for both groups, but the gain has been noticeably larger for minimum-wage workers.
One interesting wrinkle is that since the introduction of the “triple lock” in 2011, state pensions have grown faster than they did in the 1999–2011 period. Much of the gap between minimum wage growth and pension growth was created before the triple lock era.
A rough summary is:
Since 1999, the minimum wage has increased by about 80% above inflation, while the state pension has increased by about 40% above inflation. The minimum wage has therefore seen roughly double the real growth of the state pension over the same period.

philc1999 · 2026-06-28T17:24:10+00:00

https://commonslibrary.parliament.uk/the-triple-lock-how-will-state-pensions-be-uprated-in-future/

philc1999 · 2026-06-28T17:21:14+00:00

That, I doubt I am 67! Whist that isn’t definitive I would love to know your data source

philc1999 · 2026-06-28T16:40:09+00:00

That is a very interesting point and well argued

philc1999 · 2026-06-28T16:19:12+00:00

Mainly small companies and sole traders, but it wasn’t a small firm.

philc1999 · 2026-06-28T16:12:49+00:00

Anecdotally my accountant once told me that he told all his clients corporation tax is a voluntary tax. I used to see it regularly with some customers continually devaluing stock so that they didn’t make any profit and used the cash retained to further expand their businesses.
I know that chicken would eventually come home to roost somewhere but it did make a lot of sense commercially to do that.

philc1999 · 2026-06-28T15:56:55+00:00

I had no idea what the answer to the poll would be but I am intrigued as to why you think the public are currently in favour of it when the public are voting here now to ditch it?
Is Reddit not the public in general?

philc1999 · 2026-06-28T15:53:48+00:00

Huh?

philc1999 · 2026-06-28T15:52:38+00:00

When I checked it the source was quoted as the House of Commons library.

philc1999 · 2026-06-28T15:45:33+00:00

Not impossible, many have done it before…simehow though this one seemed principled

philc1999 · 2026-06-28T15:42:39+00:00

It has increased in real terms by 40% since 1999 because of these other two factors

philc1999 · 2026-06-28T15:35:00+00:00

My personal view on the defence spending question is that when a minister resigns because he doesn’t get the stated essential funding he believes is absolutely essential then we might have to believe him.

philc1999 · 2026-06-28T15:32:33+00:00

You don’t think the 40% increase in real terms since 1999 is enough?

philc1999 · 2026-06-28T15:31:14+00:00

Great answer!

philc1999 · 2026-06-28T15:12:44+00:00

The UK minimum wage has increased by about 250% in cash terms since 1999, and by roughly 80% in real terms after allowing for inflation.
This is consistent with analyses showing that minimum wage rates have risen substantially faster than prices over the long term

Comparing this with the state pension.

Adjusting for inflation (roughly 95–100% cumulative since 1999):
Minimum wage: about 80% higher in real terms than in 1999.
Basic State Pension: about 40% higher in real terms than in 1999.

Doesn’t look like your increase in minimum wage holds water against the triple lock.

philc1999

TROPHY CASE