Labour would not commit to a similar policy to the Conservatives’ “triple lock plus”, shadow business minister Jonathan Reynolds has said. Rishi Sunak has promised to increase the income tax personal allowance for pensioners, giving them a tax cut worth around £95 in 2025-26, rising to £275 in 2029-30. Mr Reynolds told BBC Breakfast on Tuesday, 28 May: “We think it’s absolutely desperate. “The only reason the state pension is anywhere near the personal allowance is because the Conservative Party has frozen the personal allowance for so long... I’m not going to say what will happen in future budgets.”