Conservative Party Manifesto: a clear plan taking bold action to deliver a secure future for pensioners across Bury North
- The UK has faced unprecedented challenges in recent years caused by the pandemic and Putin’s illegal invasion of Ukraine. By sticking with the plan, the Conservatives have restored economic stability, reduced inflation, boosted wages, created more jobs, cut taxes and increased growth. But there is more to do.
- That is why the Conservative Party’s 2024 election manifesto will set out a clear plan, backed by bold action, to secure a brighter future for pensioners across Bury North. The new Triple Lock Plus will guarantee that the State Pension is always below their tax-free threshold, cutting taxes for 8 million pensioners and ensuring dignity and security in retirement.
- Only the Conservatives have a clear plan and will take the bold action needed to deliver a brighter and more secure future for generations to come.
James Daly has welcomed the launch of the Conservative Party’s 2024 election manifesto, setting out a clear plan and bold action to build a brighter future for people across Bury North.
After committing to protect the Triple Lock earlier this year, the Conservatives’ election manifesto 2024 sets out their plan to go further to boost pensioners’ incomes. In addition to uprating the State Pension in line with the highest of prices, earnings, or 2.5 per cent, the tax-free personal allowance for pensioners will also rise by the Triple Lock – guaranteeing that the State Pension is always below the tax-free threshold.
This means that pensioners will never pay income tax on their State Pension, as the Conservatives continue to deliver on their clear plan to provide dignity and security in retirement.
As a result of the Triple Lock Plus, the average pensioner will see an increase in the State Pension of £428 next year alongside an income tax cut of £95. By the end of the Parliament, it will be a boost of £1,677 a year to their pension and further £275 a year tax cut.
The Triple Lock Plus builds on the Conservative Government’s strong track record of protecting people who worked hard all their lives after their retirement.
The Conservatives first introduced the Triple Lock in 2011, which has seen the State Pension increase by more than £3,700 since they entered office – which is £990 more than if it had been uprated by prices, and £1,000 more than if it had been uprated by earnings since 2010.
Meanwhile Labour have refused to back the Triple Lock Plus, and their Retirement Tax would see the State Pension be dragged into income tax for the first time in history if they entered government.
Only Rishi Sunak and the Conservatives have a clear plan to support pensioners and will take the bold action needed to deliver financial security and dignity in retirement. Sir Keir Starmer’s Labour would tax pensioners more, taking them back to square one.
James Daly said:
“I know the past few years have been challenging following Putin’s illegal invasion of Ukraine and Covid, but we have a clear plan to deliver a brighter and more secure future.
“We will always look after people who have worked hard all their lives and have increased that State Pension by £3,700 since 2010. I am delighted that our new Triple Lock Plus goes further to protect pensioners and will guarantee that people in Bury North will never have to pay income tax on their State Pension.
“The choice for voters at this election is clear: stick with Rishi Sunak and the Conservatives who have a clear plan and will take the bold action needed to secure a brighter future for people across Bury North. Or go back to square one with Keir Starmer and the same old Labour who will put up taxes by £2,094 for every working household.
