The United Kingdom spends over 100 billion pounds a year on state pensions. By reducing spending on pensions this should allow the Government to reduce the tax burden or increase investment in areas of the budget that will boost the economy.
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We believe young people have been forgotten about by the Chancellor and forced to bear the burden of a ridiculous increase in pensions. We believe the Triple Lock is a disaster for the budget and that the state pension should be immediately reduced to £125 a week.
Other ways of calculating yearly pension increases should then be considered, that better balance the needs of pensioners with the cost of state pensions.