David Prosser: Pension plan is nothing more than hot air
Tuesday 26 October 2010
Outlook So after all the nasties, those public sector jobs, the removal of child benefit from anyone earning top-rate tax (even if they're not that rich) and the rest, it's time to throw the public a bone or two. Step forward the Pensions minister, Steve Webb, with a bold (and carefully leaked) plan to bring in a flat-rate state pension of £140 for all... well, at least those with sufficient time as residents of this country to have paid a decent amount of tax and NI.
Some of the money for this will come from picking apart the horribly complex mess of the current state pension system, which was bequeathed by the previous Labour government. It will not be enough, though, because this marvellous idea (due to be published later this year) is quite unaffordable in this age of austerity, whatever the savings from efficiency gains and abandoning means testing. The Business Secretary Vince Cable, cutting a dash by promising a "radical overhaul" of the pension system, is well aware of that uncomfortable fact.
- 1 Thailand deaths: Pair's bloodied bodies found naked on Koh Tao beach
- 2 Scottish independence: Ireland since 1919 is a lesson for Scotland in what a Yes vote means
- 4 John Travolta addresses former pilot's gay romance allegations publicly for the first time
Thailand deaths: Pair's bloodied bodies found naked on Koh Tao beach
Scottish independence: Police will be on high alert on Friday whatever the result
John Travolta addresses former pilot's gay romance allegations publicly for the first time
QS university world rankings: Imperial College London leapfrogs Oxford to join Cambridge as best British university
Scottish independence exclusive: Millions of banknotes sent to Scotland in case Yes vote sparks run on ATMs
Daniele Watts: Django Unchained actress detained by Los Angeles police after being mistaken for a prostitute
The political class is doing what Hitler couldn’t – destroying Britain
Scottish independence: Nationalist leader Jim Sillars threatens pro-union companies with 'day of reckoning' after independence
Scottish independence: Yes campaign feels the heat as Alex Salmond's NHS claims come under furious attack
Portuguese academic says British are 'filthy, violent and drunk'
£23m Birmingham cycle scheme is attacked by Tory councillor for not catering to the elderly
iJobs Money & Business
£20 - 24k (Uncapped Commission - £35k Year 1 OTE): Guru Careers: We are seekin...
£20 - 24k + Benefits: Guru Careers: This is a great opportunity for an enthusi...
£280 - £320 per day: Ashdown Group: The Ashdown Group have been engaged by a l...
£400 - £450 Per Day: Clearwater People Solutions Ltd: **URGENT CONTRACT ROLE**...