Political Currency EMQs: Is it time to abolish the state pension triple lock?
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Dec 8, 2025 The hosts dive into the controversial triple lock on pensions, debating its political risks and implications for the poorest pensioners. They ponder William Hague's theory that sacking Rachel Reeves could shake Keir Starmer's position. Curiously, Keir's doodling during PMQs is linked to focus techniques reminiscent of Obama. They also explore the history of the triple lock and the complexities of tax pledges in political manifestos. In a twist, they imagine how political history might have changed with different decisions leading up to the 2024 election.
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Doodling As A Debate Focus Tool
- George Osborne recalls Obama debate tactics and using a single word or line to focus answers during TV debates.
- Ed Balls and George say doodling can be a concentration device rather than a sign of boredom.
Origins And Cost Surprise Of The Triple Lock
- The triple lock began in coalition talks as a political compromise linking pensions to inflation, earnings or 2.5% whichever is highest.
- George Osborne notes initial cost projections were small but later proved underestimated due to economic shifts.
2.5% Floor Was A Post-Crash Safeguard
- The triple lock's 2.5% floor was designed as protection after the financial crash and was thought cheap because earnings were expected to exceed it.
- Economic downturns changed those assumptions, making the lock more expensive than forecast.
