Tags

, , , , , , ,

Chancellor Rishi Sunak dodged a major headache in his summer statement – failing to address a burning issue affecting pensions.

He has a choice between giving senior citizens a massive increase in their pensions next year, or breaking a long-standing promise to them.

Here’s the problem, according to the Mirror:

Current rules mean the Government will need to find enough money to raise the state pension by an estimated 18.3% when we can least afford it.

It’s because of an old promise to make sure pensions rise by at least as much as average earnings each year.

Earnings have collapsed in 2020 thanks to a combination of the furlough scheme, lockdown and pay cuts – and that means next year average wages will look like they’ve rocketed and pensions will have to rise despite never having fallen.

The Government’s needs to choose between breaking a promise to pensioners, or handing them huge increases because working Brits lost money.

Sunak didn’t say a word about pensions in his statement – he ignored the issue completely.

But the problem won’t go away and he will have to decide soon whether to blow a huge hole in the pension fund – or upset a huge swathe of mostly Tory voters.

This Writer is willing to bet he’ll upset the oldies – because there won’t be a general election for four years and he’ll expect them to have forgotten or died by then. That’s the usual rationale.

Source: Three glaring omissions from Rishi Sunak’s mini Budget – young mums, pensions and renters – Mirror Online

Have YOU donated to my crowdfunding appeal, raising funds to fight false libel claims by TV celebrities who should know better? These court cases cost a lot of money so every penny will help ensure that wealth doesn’t beat justice.

https://www.crowdjustice.com/case/mike-sivier-libel-fight/


Vox Political needs your help!
If you want to support this site
(
but don’t want to give your money to advertisers)
you can make a one-off donation here:

Donate Button with Credit Cards

Here are four ways to be sure you’re among the first to know what’s going on.

1) Register with us by clicking on ‘Subscribe’ (in the left margin). You can then receive notifications of every new article that is posted here.

2) Follow VP on Twitter @VoxPolitical

3) Like the Facebook page at https://www.facebook.com/VoxPolitical/

Join the Vox Political Facebook page.

4) You could even make Vox Political your homepage at http://voxpoliticalonline.com

And do share with your family and friends – so they don’t miss out!

If you have appreciated this article, don’t forget to share it using the buttons at the bottom of this page. Politics is about everybody – so let’s try to get everybody involved!

Buy Vox Political books so we can continue
fighting for the facts.


The Livingstone Presumption is now available
in either print or eBook format here:

HWG PrintHWG eBook

Health Warning: Government! is now available
in either print or eBook format here:

HWG PrintHWG eBook

The first collection, Strong Words and Hard Times,
is still available in either print or eBook format here:

SWAHTprint SWAHTeBook