ChatterBank0 min ago
Triple Lock On Pensions To Go !
There are distinct rumours that Mrs May is thinking of ditching the triple lock on pensions, as well as ditching the 2015 Tory manifesto pledge not to raise income tax, national insurance or VAT.
So, we could be looking at a future Tory government, where the value of your pension will go down, at the same time as taxes go up.
Vote Tory...get a double whammy !
So, we could be looking at a future Tory government, where the value of your pension will go down, at the same time as taxes go up.
Vote Tory...get a double whammy !
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NI and Income tax no longer worry us 'Coffin Dodgers' but I am wondering what will happen with VAT.
I asked a day or two back what we thought would happen to VAT once we are out of the EU.
I am old enough to remember how loathed and despised it was when we were forced to introduce it as a condition of joining the Common Market! I think there were actually protests on the streets!
I asked a day or two back what we thought would happen to VAT once we are out of the EU.
I am old enough to remember how loathed and despised it was when we were forced to introduce it as a condition of joining the Common Market! I think there were actually protests on the streets!
The country is living beyond its means. The tax take is already far too high and that is because public spending is far too high. Something has to give. Either spending must be cut or taxes must rise. Since most people (but excluding me) think the level of public spending must not be allowed to drop, that only leaves the other option.
It's not at all clear that the pensions triple lock will be abandoned but Mrs May is making noises to suggest it will. The 0.7% rule on Overseas Aid is obviously not up for grabs - it's far more important to provide Aid to foreigners than it is to protect UK citizens' pensions.
Labour's answer, of course, will be to "soak the rich" (which, historically has always resulted in less revenue being raised) and to continue spending as if there is no tomorrow (which for them there usually isn't). This will result in the usual bankruptcy that traditionally follows a few years of Labour rule. and we'll be back to square nought.
It's not at all clear that the pensions triple lock will be abandoned but Mrs May is making noises to suggest it will. The 0.7% rule on Overseas Aid is obviously not up for grabs - it's far more important to provide Aid to foreigners than it is to protect UK citizens' pensions.
Labour's answer, of course, will be to "soak the rich" (which, historically has always resulted in less revenue being raised) and to continue spending as if there is no tomorrow (which for them there usually isn't). This will result in the usual bankruptcy that traditionally follows a few years of Labour rule. and we'll be back to square nought.
DAVEMANO, from another site, "Asked about [the triple lock guarantee]during a factory visit in her Maidenhead constituency, Mrs May replied: 'What I would say to pensioners is, just look what the Conservatives in government have done.
'Pensioners today are £1,250 better off as a result of action that has been taken. We were very clear about the need to support people in their old age, and that's exactly what we've done.' Hardly a strong indication it will be maintained, eh?
'Pensioners today are £1,250 better off as a result of action that has been taken. We were very clear about the need to support people in their old age, and that's exactly what we've done.' Hardly a strong indication it will be maintained, eh?
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