State Pension: No Deal Brexit ‘threatens future’ of State Pension triple lock

Speaking to Express.co.uk, Mr Cranwell said: “While the Government has confirmed the triple lock system will be maintained in 2021-22, the economic fallout caused by a no-deal Brexit, combined with the Covid-19 economic recovery effort, could threaten its longer-term future.

“Government borrowing is estimated to reach £394billion by April 2021, while a no-deal Brexit could cost some sectors of the economy billions.”

As an example, the car industry recently estimated a no-deal outcome would cost them a staggering £55billion.

As a result, the Government may be forced to make savings in other areas – including the triple lock system.