A fairer alternative to the TL would be a double lock, but indexed back to a starting point (say April 24), rather than calculated over discrete 12 month periods, so the year by year cherry picking effect would be removed. 10/

With that mechanism there may need to be some allowance for years when the calculated increase was 0%, which might happen if earnings and prices increased rapidly but in different years. It shouldn't be insurmountable though. 11/