Business & Finance1 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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i think the way it's going..so far the powers that be are happy to give away x amount to erm charity foreign aide etc, but like judge said we are living beyond our means, or the government are letting things spiral montary wise, live for today tommorow will take care of itself
example, we have universities pushing out media degrees, of 0 value
where are the tech and engineering degrees, i htink people are either to lazy or they have not got any savy, anyway back to triple lock..it's dead in the water..why look at our gdp and think in ten yrs time and double that, unsustainable
example, we have universities pushing out media degrees, of 0 value
where are the tech and engineering degrees, i htink people are either to lazy or they have not got any savy, anyway back to triple lock..it's dead in the water..why look at our gdp and think in ten yrs time and double that, unsustainable
All speculation at present; but it does underline how sad it is that there is no decent alternative even likely to be able to form a government at present. Pro EU, pro ID card, "the masses do what they are told as we monitor them" Labour are going to be unelectable for some time yet. Decades possibly. The citizen is caught between the devil and the deep blue sea.
"NJ - the foreign aid thing. Weak."
The current cost of State pensions is about 6% of GDP or about £90bn. Assuming the “Triple Lock” would lead to increases of, say, 1% pa more than if it was not in place, it will cost less than £1bn to fund it. The country is asked to believe that this is unaffordable whilst in the same breath being told that the £13bn pa given in “Aid” to foreigners is perfectly sustainable.
If there is any weakness involved it is with that contention, not mine.
The current cost of State pensions is about 6% of GDP or about £90bn. Assuming the “Triple Lock” would lead to increases of, say, 1% pa more than if it was not in place, it will cost less than £1bn to fund it. The country is asked to believe that this is unaffordable whilst in the same breath being told that the £13bn pa given in “Aid” to foreigners is perfectly sustainable.
If there is any weakness involved it is with that contention, not mine.
As usual, NJ, you tell it like it is. What I cannot fathom is why a person of May's political acumen should want to tell all and sundry that while we will continue to fund foreign countries, most of whom hate our guts, to the current level, the rest of the country should be prepared to pay more to finance it. She needs some new spin doctors.
NJ - your maths tells me that the cost of the totally unnecessary HS2 fiasco would cover it for around 80 years - and climbing.
J33 - I'm with you there, but the surviving £2 is already under attack, with a charge of £27.50 to empty my garden waste bin during spring/summer.
The fact that State Pension is constantly referred to as part of the "benefits" bill doesn't help - seems to me it's no more a benefit that a pension paid to a Teacher or Firefighter.
It's also, I believe, the lowest in Western Europe by some measure.
J33 - I'm with you there, but the surviving £2 is already under attack, with a charge of £27.50 to empty my garden waste bin during spring/summer.
The fact that State Pension is constantly referred to as part of the "benefits" bill doesn't help - seems to me it's no more a benefit that a pension paid to a Teacher or Firefighter.
It's also, I believe, the lowest in Western Europe by some measure.
Dougie...I will be 65 in June 2018, so expect my OAP to kick in at that time !
In 2015, the Tories promised not to increase income taxes, VAT or NIC's. But, just a few weeks ago, Hammond did exactly that, when he increased NICs for self-employed people.
Of course, he and Mrs May had to do a U-Turn on that, mainly because of a rebellion in the Tory Party.
We shouldn't forget that it was the Tories, not Labour, that raised VAT to its present high levels on occasions in the past, so they have previous form in this area.
There has been such a rebellion overnight, that I now doubt that these two things will be in their Manifesto after all, but perhaps they will anyway, if they win the Election.
To threaten the retired section of our population would be suicide indeed, but how else are they going to make the sums add up ?
In 2015, the Tories promised not to increase income taxes, VAT or NIC's. But, just a few weeks ago, Hammond did exactly that, when he increased NICs for self-employed people.
Of course, he and Mrs May had to do a U-Turn on that, mainly because of a rebellion in the Tory Party.
We shouldn't forget that it was the Tories, not Labour, that raised VAT to its present high levels on occasions in the past, so they have previous form in this area.
There has been such a rebellion overnight, that I now doubt that these two things will be in their Manifesto after all, but perhaps they will anyway, if they win the Election.
To threaten the retired section of our population would be suicide indeed, but how else are they going to make the sums add up ?
