Minority govt to 'kick pension reforms into long grass': Webb
Steve Webb, former Pensions Minister and Director of Policy at Royal London, has warned of the implications of the General Election for policy on pensions and social care, saying that a minority government "will struggle to pass any major reforming legislation".
Webb believes that reforming the funding of social care "will almost certainly be kicked into the long grass as will any big shake up of pension tax relief".
He continued: "If the Conservatives are relying on the DUP for a majority, even policies such as ending the triple lock or means-testing the Winter Fuel Payment will be called into question. The most we are likely to see is further tinkering as the government looks to fill its budget shortfall with further salami slicing of pension tax relief for higher earners.
“The new Government will also shortly need to make up its mind about future changes to the state pension age, and the loss of a majority in the Commons means that the more aggressive increases which the Treasury would have preferred are now probably off the table.”
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