'Stop defending triple lock pension Ponzi system'

THE Conservatives need to stop defending the pensions triple lock if they want to gain support from young people, a senior MP has said.

- JONATHAN BUCKMASTER

Tom Tugendhat, who came fourth in the contest for the Tory leadership last year, compared the UK economy to a “Ponzi system” during a fringe event at the party conference in Manchester yesterday.

The former minister argued that the economy and politics were too geared towards older people, saying a refusal to deal with this was driving young people towards parties that are “revolutionising” the system.

He said: “This is a logical series of outcomes for an economic system that has effectively become a Ponzi system for the old.