Londoners face tax rises to fund Burnham's social care reforms even if pensions 'Triple Lock' is scrapped

The Prime Minister announced at Labour’s annual conference in Liverpool that the “Triple Lock” will be adjusted from 2030 removing the link to average earnings to pay for social care reform.

The controversial reform will mean the State pension will rise by inflation or 2.5%.

“This change will generate significant savings, which we will use to build up our national care service,” Mr Burnham told Labour delegates.

Andy Burnham left audience members moved during his keynote speech at the Labour Party Conference

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Health experts say that £18 billion more a year may be needed to be spent to tackle the social care crisis, though, the Prime Minister has disputed the figure.

Prime Minister Andy Burnham delivering his keynote speech during the Labour Party Conference at the ACC Liverpool. Picture date: Picture date: Tuesday September 29, 2026.

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“So this is the deal: a state pension that rises every year, no care charges, and a high-quality national care service to give peace of mind in later life,” he said.

“Conference, I am going to go out and argue for that-a good deal for our pensioners and for older people in the 21st century.”

But Mr Cribb said the funding raised from reforming the “Triple Lock” over the next decade or so would be “small change compared to the potential spending on social care”.

Young Londoners face tax rises to pay for landmark social care reforms

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He told The Standard: “If they scrap or move away from the Triple Lock, that's not enough to fund big entitlement to social care in the next few years, in the early 2030s.

“Therefore, they would need other spending cuts, or tax rises.”

Andy Burnham at Labour’s annual conference in Liverpool

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“If they do broad tax rises through income tax or National Insurance, or an equivalent to National Insurance, some kind of social care levy, that is likely to affect younger and middle-aged people more because they work more and they earn more.”

London has a younger population than regions around the country.

London has a lower proportion of pensioners compared to other parts of Britain

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The highest old age dependency ratio was in the South West with 353 pensioners per 1,000 people of working age, followed by the North East at 318, the East 304, the South East 302, East Midlands 298, Yorkshire and the Humber 290 and West Midlands 284.

So the capital gets proportionately less benefit from the “Triple Lock” than other parts of Britain, while being the region which provides more of its funding.