Treasury minister 'won't pre-empt Budget' by discussing triple lock future

Government revealed plans to scrap the agreement last year to preserve the NI pot

The treasury minister says he won't pre-empt what's going to be in the Budget after being asked about the future of the Isle of Man's 'triple lock' agreement.

It makes sure pensions rise annually by inflation, average earnings, or 2.5 percent, depending on which is higher, and is linked via a reciprocal agreement with the UK.

In November 2024 government revealed plans to introduce a 'double lock' system instead to try and preserve the National Insurance pot, which is currently expected to be exhausted by 2047.

But, after they were withdrawn from the 2025 Budget, Chris Thomas wouldn't be pushed in the House of Keys on whether those plans were still being considered: