Andrew Griffith vows to protect pension triple lock

What the Conservatives' economic rebuild would mean to you

The Conservative shadow chancellor will use day two of the conference to set out new economic plans.

Griffith makes it clear that he wants to cut taxes, scrap regulation and lower the cost of building new homes.

The package also backs a third runway at Heathrow and the abolition of Natural England and the Environment Agency.

Described it as "the most ambitious deregulation project in a generation", the plans would scrap agreements that force developers to fund community projects where they build.

Reform UK, a party previously accused by commentator Peter Oborne of waging war on what Britain is, dismissed the announcement, calling the move as a copy of their own policies.

Andrew Griffith's pension triple lock reversal

Griffith was asked on BBC Breakfast whether he would keep the triple lock, as Prime Minister Andy Burnham has proposed changing that mechanism.

Griffith replied that they are "going to keep it", marking a shift in the shadow chancellor's words in 2021 that the triple lock was "unfair" as pensioners would "gain from the misfortune of others".

Griffith's push comes as the party tries to shake off a decade of criticism over its record in office from 2010 to 2024.

George Osborne has already urged the UK to rejoin the EU customs union to reverse what he called a Brexit disaster.

This shows the division within senior Tories.

Tom Tugendhat, the shadow foreign secretary, and ex-chancellor Jeremy Hunt have both cast doubt on it separately. Griffith is committing to keep it anyway.

What is the pension triple lock?

It guarantees the state pension rises each year by whichever is highest out of inflation, average earnings growth, or 2.5%. Burnham has proposed changing that formula; Griffith has now ruled out following him.

What are the Conservatives promising to cut?

• Taxes and regulatory "red tape" across the economy
• House-building and food costs
• Natural England and the Environment Agency, which Griffith wants abolished entirely

The speech follows a 100-page document from party leader Kemi Badenoch, setting out her governing principles.

The Conservatives are trying to convince voters they can be trusted with the economy again.