Starmer's vision quest

[icowden]

Trump is not a fan of Carney and Canada restrictions on US trade. He is seeking far better trading agreements.

And fails every time.

He plays hard for deals he wants, normally settles for something less that he actually wants.

Because he's too dim to understand what he is doing.

Everyone gets outraged over his methods.

Because he's destabilising world trade and causing hardship for his citizens. He killed hundreds of thousands of them during Covid.

 

[TailWindHome]

Why should it be locked to anything?

Chancellor can decide at each budget what they want to do. Same as other benefits, allowances and the minimum wage.

 

[Bromptonaut]

Why should it be locked to anything?

Chancellor can decide at each budget what they want to do. Same as other benefits, allowances and the minimum wage.

Benefits for health/out of work normally follow CPI.

This year I think the basic allowances in Universal Credit are CPI+ to try and restore what's lost by freezes and by CPI undershooting inflation on essentials.

 

[spen666]

Indeed! [he exclaimed, having just spent £1000 on new specs].

I'm going to agree with you as now you can see the issues clearly then

 

[CXRAndy]

Because he's too dim to understand what he is doing

Come back when you've made your first cash million

 

[CXRAndy]

𝕏 for the win

 

[spen666]

Whoops - that if a true post is a little bit embarrassing
Politicians seem good at saying / posting things which come back to bite them

 

[Psamathe]

They could create a pensioner based index. I'm torn on means testing, it makes sense but at the same time will it simply take away an incentive to build your personal pension pot if it results in you getting a reduced State pension?

I agree, means testing would certianly discourage people from saving for their retirement - why do with less whilst working if that means getting less once retired.

People seem very ready to blame pensioners for the cost of state pensions but the issue is more demographics so I'm still not convinced the tripple lock is the massive issue it is frequently presented as. Or at least there are far bigger issues that would reduce the issue weg addressing why so many working age are not working due to sickness.

State pension is not providing a fabulous lifestyle for pensioners dependent on State/New State Pension. Those without additional resources are struggling so talk of reducing safeguards on that get concerning.

Maybe the answer is in Universal Basic Income. Though I can't see politicians going anywhere near that in the foreseeable future; politics seems more like a game for the elite paid for by society than about the betterment of society.

 

[Bromptonaut]

The issue with the triple lock is cost.

 

[Psamathe]

What often strikes me as strange is how, if helping those in society who are struggling is too expensive how come our Government of so often flushing vast amounts on money "down the toilet". another example today with £100+m just complete waste

UK shelves £110m frictionless post-Brexit trade border project
The UK government has shelved a project to simplify trade border processes post-Brexit after spending £110m on a contract with Deloitte and IBM for it, according to reports.

The last Conservative government promised in 2020 to create the “world’s most effective border” by 2025 as part of its plan for a new trade system after Britain left the EU.

The government hoped a “single trade window” (STW) would simplify border processes by creating a single digital platform in which importers and exporters could upload all documentation linked to goods before they are transported. However, the STW project was paused in 2024 amid concerns over costs.

I've no idea if the scheme was a good or bad idea but spending £100+m on something to be aborted to waste means either the decision to start it or the decision to end it was just waste.

 

[First Aspect]

And leave the State Pension level and not increasing?
Easy to say scrap it but you need to propose an alternative or as the trumpet man likes to say, you are just breaking something.

I'd reform it, not scrap it. First stage, make it an average of the three measures.
Then look to drop the average earnings measure from the equation.

What's wrong with only two locks? Why does there need to be three?

 

[Psamathe]

What's wrong with only two locks? Why does there need to be three?

I'd be uncertain as to the impact of changes eg make it a double lock of wages & inflation (ie drop the 2.5% "lock") and how much difference would that actually make to the cost.

The crucial aspect is not how wealthy pensioners in general are but how much those entirely dependent on State/New-State pension alone are getting eg when also paying rent. It's those struggling that need the focus. Hence maybe the need to consider some Universal Basic Income or Means testing (I believe some other countries means test state pensions eg Australia?).

 

[bobzmyunkle]

This debate suggests the UK pension is generous - it isn't. You can easily Google a comparison with the rest of Europe if you want. Arguing that a lot of pensioners are rich doesn't really cut it either, any income above basic state pension is taxed.

 

[First Aspect]

This debate suggests the UK pension is generous - it isn't. You can easily Google a comparison with the rest of Europe if you want. Arguing that a lot of pensioners are rich doesn't really cut it either, any income above basic state pension is taxed.

The rest of Europe has unsustainable state pension and retirement ages. It's like looking at national debt and concluding ours is fine because of Greece.

 

[First Aspect]

I'd be uncertain as to the impact of changes eg make it a double lock of wages & inflation (ie drop the 2.5% "lock") and how much difference would that actually make to the cost.

The crucial aspect is not how wealthy pensioners in general are but how much those entirely dependent on State/New-State pension alone are getting eg when also paying rent. It's those struggling that need the focus. Hence maybe the need to consider some Universal Basic Income or Means testing (I believe some other countries means test state pensions eg Australia?).

I didn't say which lock.

I do not understand why a pension needs to be pegged to average earnings.