ED Balls has insisted Labour is committed to the so-called "triple lock" on state pensions after the Tories claimed the Opposition was lining up pensions for cuts after it admitted they would be included in Labour's proposed welfare cap.

The Shadow Chancellor said the "clear large bulk" of social security spend went to the over 60. Those costs must be included in an overall welfare bill limit he said.

Pressed on whether the state pension would be covered by his proposed cap on large sections of the social security budget, Mr Balls said: "At the moment, our plan is to include it."

He went on: "For the cap to work vigorously we have got to be looking ahead and I have got to be saying to these spending ministers – look three years ahead, you are going off track, do what needs to be done now."

Asked if he was prepared to limit pension rises if spending was in danger of breaching the cap, Mr Balls replied: "That is not our intention at all."

Aides to George Osborne said basic pension spending would be excluded from the welfare cap the Chancellor is due to unveil this month.

Matthew Hancock, Tory Business Minister and Mr Osborne's ex-chief of staff, tweeted: "Amazing. Balls admits that when Labour say they will cap benefits, what they mean is they will cap pensions of people who have worked hard."

The Shadow Chancellor responded: "We're com-mitted to triple-lock on state pension. Got to monitor long-term pension spend. Tory reaction very rattled."