Paphos Life

The government will scrap the "triple lock" mechanism that ensures state pensions rise by at least inflation, wage growth, or 2.5%, whichever is the highest, for the 2022/23 financial year.

Work and Pensions Secretary Therese Coffey told MPs that the temporary, one-year change would mean pensions would rise by 2.5% or in line with inflation next year.

Last month, the Bank of England said it was expecting inflation to peak at 4%.

Without the change, the state pension would have risen by over 8% due to exceptional changes in wages in part due to the furlough scheme.

The one-year adjustment will be introduced for 2022/23 only, she said, with the triple lock restored the following year.

https://www.bbc.co.uk/news/live/uk-5847 ... type=share

Still not good news for pensioners, particularly if inflation increases.

Dee

I certainly wasn't considering it to be "good news" because I don't trust the bloody Tories to bring it back come the end of 2023.
It will most likely just disappear into the ether, never to be seen again....

Oh come off it. It would be completely immoral to raise pensions by 8% under the present climate.

Dominic wrote: ↑Wed Sep 08, 2021 10:35 am Oh come off it. It would be completely immoral to raise pensions by 8% under the present climate.

Totally agree but don't you think something should be done about the fortune billionaires have made off the back of the pandemic.? TA calculation shows if you charged them 10% windfall tax that would cover Social Care and the NHS and that would still leave them millions and billions to play with.
As usual it's those that can least afford it have to pay for it but that's what people vote for.

https://www.independent.co.uk/money/bil ... 7.html?amp

TA?

But yes, something should be done. Anything that stops them building sodding rockets.

PhotoLady wrote: ↑Wed Sep 08, 2021 12:12 pm Screenshot_20210908-100233~2.png

Just making a batch of popcorn, this thread should get interesting

Heath, ????

If they break their undertaking because to not break it would be immoral, then I am all for it.

Dominic wrote: ↑Fri Sep 10, 2021 9:26 am If they break their undertaking because to not break it would be immoral, then I am all for it.

Immoral? That's a little dramatic. Do you receive a state pension? If not, then surely you're not in a position to judge?

Why on Earth not?

What's the basis for your statement? You think a pension increase is immoral because a glitch in the matrix would give pensioners an unexpected bonus for once? The only thing immoral about this whole sorry state of affairs is the 10% NI levy affecting people who can afford it least while at the same time reducing UC and giving their rich mates a free ride.

For once??? Don't make me laugh. In the real world lots of salaries have been stagnant for years.

An 8% rise compared to the 2% rise the NHS got is completely immoral, yes.

Dominic wrote: ↑Fri Sep 10, 2021 4:10 pm For once??? Don't make me laugh. In the real world lots of salaries have been stagnant for years.

An 8% rise compared to the 2% rise the NHS got is completely immoral, yes.

What has the absolutely pathetic rise given to the NHS by the government got to do with pensions? Unfair in comparison maybe, but why immoral?

I think you also overlook the fact that in order to qualify for the UK state pension, you would have had to work and pay your NI for 45+ years in the real world, stagnant salaries and all. It's not a freebie, it's something we've paid for. And don't get me started on WASPI. If anything's immoral, that situation is.

There isn't an infinite pot of money. If it goes somewhere it can't go somewhere else.

Of course there's a finite amount of money but the "Pot" would be a lot bigger if everyone paid their fare share but unfortunately that's not the case in the UK. You just have to look at the link below to see how little big business pay their fair share into the pot and its the same with all these millionaire and billionaire tax avoiders who are supported by the party that is presently in power.

https://amp.theguardian.com/technology/ ... sales-rise

Jim B wrote: ↑Sat Sep 11, 2021 10:22 am Of course there's a finite amount of money but the "Pot" would be a lot bigger if everyone paid their fare share but unfortunately that's not the case in the UK. You just have to look at the link below to see how little big business pay their fair share into the pot and its the same with all these millionaire and billionaire tax avoiders who are supported by the party that is presently in power.

https://amp.theguardian.com/technology/ ... sales-rise

Oh I 100% agree on that. And it isn't just the Tories who support them. When Labour were in power what did they do to tackle the issue?

Dominic wrote: ↑Sat Sep 11, 2021 3:47 pm

Jim B wrote: ↑Sat Sep 11, 2021 10:22 am Of course there's a finite amount of money but the "Pot" would be a lot bigger if everyone paid their fare share but unfortunately that's not the case in the UK. You just have to look at the link below to see how little big business pay their fair share into the pot and its the same with all these millionaire and billionaire tax avoiders who are supported by the party that is presently in power.

https://amp.theguardian.com/technology/ ... sales-rise

Oh I 100% agree on that. And it isn't just the Tories who support them. When Labour were in power what did they do to tackle the issue?

I'm not defending anyone in relation to tax avoidance but the below link from 2015 puts it into perspective in relation that the the Tories actually collaborated with these businesses and people to avoid paying tax. Labour aren't much better but I've not said they are.

https://amp.theguardian.com/politics/20 ... ord-labour

I'd just like to add that I believe Tax Avoidance was the big driving force behind Brexit for those leaders campaigning for it, not sovereignty or Immigration or money as the ordinary man or woman in the street did. They were given millions by the tax exiles who definitely didn't want anything stopping them salting their ill gotten gains overseas in tax havens.
The EU were pushing for a tax avoidance law and the UK were pushing back, even Cameron tried to persuade them to drop the Avoidence Law which they wouldn't and the rest is history.

Care Reform.
They are going to look after the most Vulnerable people, by taxing the most Vulnerable people.