Conservative leader defends plan to extend free childcare to high earners, as Tory conference begins in Birmingham today
On Friday the Times revealed that Katie Lam, the communities secretary, told a meeting in private earlier this year that the state pension system needs a fundamental overhaul.
Speaking in June, when she was a frontbencher but not yet in the shadow cabinet, Lam was asked at a meeting with activists if she thought the pensions triple lock was sustainable. She replied:
Ultimately I think what we will need in the end is an entirely new pension system.
I mean, a baby that is born today has a 20% chance of living to be 100 and I don’t think we can fund one in five people half of their lives, you know, for the first 20 and the last 30 years. But obviously if you are 90 you probably can’t go out and get a job right, so I think you have to be realistic about how you would taper that and bring that in across the population.
The fact is, the triple lock and pensions are things that people have contributed to.
Conservatives believe that if you have contributed, then you deserve to get your state pension.
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