Ignore The Media And The Left Squealing Like Stuck Pigs, Osborne Has Not Robbed Pensioners

Forget all the howling coming from left field, the mainstream media and the Liberal Democrat bit of the Coalition. In last week’s budget, Chancellor George Osborne did not impose a stealth tax on pensioners. What he has done is abolish an age related tax allowance for new pensioners. So anyone turning 65 and claiming their pension with get the standard allowance before paying tax of £9,200. The raised alowance of £10,500 will continue to apply to those already on pensions. Nobody living on a pension will be getting less than they are now.

Here is what one level headed commentator (in The Independent of all places) said:

Existing pensioners will still avoid paying tax on the first £10,500 of their income, rising to £10,600 for the over-75s, but those benefits will now be ­frozen until the basic personal allowance catches up.

Pensioners groups, it is said, responded with fury. But pensioners groups always respond with fury. If a chancellor gave pensioners an extra hundred pounds a week they would still furiously claim they are hard done by.

What everyone has overlooked here is that the budget raised the basic old age pension that we pay for through national insurance and should all be claiming if we are on pension age (my wife is over 60 and because we kept our tax and earnings separate she already gets her pension while I have a year to go. So I have done the numbers).

Pensioners who will be hit by the new tax will be paying “up to £322 a year more” but will be getting £275 more in their state pension Now that actually means people who get a state pension and an occupational pension, not the poorest pensioners scraping by of their basic state pension. And note that “up to”. A few new pensioners with good occupational pensions giving them income of around £18,000 a year will pay £47 a year extra in tax over what those who retired before the deadline will pay. Big deal. For many whose taxable income is only slightly above the income threshold the difference will be trivial.

Pensioners who only have the basic state pension will not be affected as their total taxable income does not exceed the tax free personal allowance nor will people who get disability allowances as those payments are not taxable. Meanwhile the government faces a mega crisis of debt that has been building since the first Labour government after World War 2. There are signs that problem is going to get a lot worse very soon.

Any chancellor of any party faces an almost impossible task in trying to stop us being Greeceified by an unnafordable welfare systeminst the efforts of a profligate public sector and keep the professional whiners like pensioners, public sector workers and the unions quiet.

Good luck to George Osborne with his tightrope walking career. He may not be anywhere near the best Chancellor we have had but if Labour were in power, buying votes with borowed money while throwing tax revenues into the pockets of their very very rich supporters things would be a whole lot worse.

Osborne’s War On Pies
The Age Timebomb

Don’t Piss Off The Grey Pound

Retailers risk repelling some of their wealthiest customers with excessive and poorly-designed packaging which older people find difficult to open or use, the charity Age UK claims. It says that people over 65 years old spend nearly £100bn a year but half of them struggle to unwrap products or read instructions because the print is too small.

Michelle Mitchell, a director or Age UK, said: “Despite their rising spending power, millions of older consumers face difficulties this Christmas because of the restrictive … read full story: Grey Pound Warns Retailers Not To Piss Off £100bn Market

Serves them right for always sucking up to the fickle little shits (aka the 16 to 24 demographic) who make most noise but rely on Mum and Dad for spending money. Keep your grey pounds in your pockets my fellow oldies, let’s make the bastards squirm.

Pissed Pensioners
Cashless Britain

Arrogance of Economists, Stupidity Of Politicians

Death of the eurozone

Big Gordy’s Plans For Poor Pensioners

Gordon Brown has many times promised action to deal with the pensions time bomb. People assume this means he will do something to relive the plight of hard up pensioners whose retirement funds were decimated by the Governments plundering of their pension schemes. It is always dangerous to jump to conclusions.
On the back of Brown’s latest blether about the poor pensioners comes a revelation that the Polonium Chancellor is planning another raid on pensions funds to help cover up the hole in the economy his crooked figures can no longer hide and to ensue funds are available to cover the bungs, graft and payola promised to CEOs of Private Finance Initiative partners.
So how can big Gordy lie with a straight face about his plans to end pensioner poverty. Unless of course upping the payouts is not what he has in mind. Given the fascist tendencies of New Labour anything is possible but what we suspect is a so very Machiavellian even Little Nicky Machiavelli is shocked. Have you noticed those big, grey, windowless boxes going up on the outskirts of towns, the ones with sinister looking flues next to them?
Could the be the “shower blocks” of new leisure centres for the elderly and poor?

It would certainly solve the problem and even taking into account recent hikes in the price of gas, the cost is hardly a consideration.

(If you are thinking Little Nicky is being rather hard on the Prime Malefactor in waiting, I believe this man has sold his soul to the demon of Blair’s legacy, so great is his ambition. There is not a milligram of moral fibre or a sliver of socialist principle visible in any of his speeches or essays.)