Sunak Pledges Pensioner Tax Cuts with 'Triple Lock Plus'

The Conservative Party has announced a "Triple Lock Plus" scheme to raise the tax-free pension allowance if they win the general election, ensuring the state pension remains below the tax-free threshold. This move aims to prevent pensioners from paying income tax due to frozen tax thresholds. Critics, including Labour and the Liberal Democrats, have dismissed the plan as a gimmick, while the Institute for Fiscal Studies notes it mainly prevents a tax rise rather than offering a significant tax cut.