Monday, 13 June 2016

Conservative Party donor cancels membership over Cameron's threat to pensions

One of the Conservative Party's big donors has withdrawn his support for the Conservatives after David Cameron threatened to abolish the legal mechanism that increase the state pension by 2.5%, inflation or average earnings, whichever is higher.

The Conservative manifesto pledged to maintain the so-called "triple lock" on pensions until at least 2020 but last week David Cameron warned that he would abolish it when we leave the EU.

Venture capitalist, Edi Truell, has donated £270k to the Conservatives since 2010 but has cancelled his membership after David Cameron's pension threat. He has said that he will not support the Conservatives again until David Cameron is gone.