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It will be a disaster for the UK if the triple lock is done away with, anyone interested in the economics of this country needs to watch the video until the end because the stats and repercussions keep on coming.
Continually being banned by Planet Swans for Porthcawl and then being reinstated.
The video is about the figures but the upshot not mentioned in this video but I've seen it before is that if you give poor people/pensioner's more money they will boost the economy as they will spend it as they have very little in lots of cases, if you give already rich people more money they often don't spend it they simply bank it.
Continually being banned by Planet Swans for Porthcawl and then being reinstated.
Triple lock under threat on 09:04 - Sep 16 by trampie
As alluded to in the video NuLabour are right wing Tories, I'm sure the forefathers of the old Labour Party will be turning in their graves.
And I'd agree with you, Blair was a toxic tory in a red suit.
On the triple lock, I'm fine with them stopping it as long as they bring the state pension in line with the minimum wage. Like you say, poor pensioners will put that money back into the economy.
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Triple lock under threat on 18:18 - Sep 16 with 1172 views
The main problem with this is he clains it can be afforded by removing tax incentives to save in a private pension, which will just make less people invest and more people dependent on the state.
He also doesn't mention pension credits which top up the pensions of those with an insufficient NI record. That's wrong too in my opinion.
Young people are also far more likely to live in poverty than sn OAP, the problem has moved and so should any funding.
[Post edited 16 Sep 18:28]
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Triple lock under threat on 18:37 - Sep 16 with 1127 views
Triple lock under threat on 18:25 - Sep 16 by Scotia
The main problem with this is he clains it can be afforded by removing tax incentives to save in a private pension, which will just make less people invest and more people dependent on the state.
He also doesn't mention pension credits which top up the pensions of those with an insufficient NI record. That's wrong too in my opinion.
Young people are also far more likely to live in poverty than sn OAP, the problem has moved and so should any funding.
[Post edited 16 Sep 18:28]
He is focusing on the tax relief going to the higher and additional-rate taxpayers.
Continually being banned by Planet Swans for Porthcawl and then being reinstated.
Triple lock under threat on 18:25 - Sep 16 by Scotia
The main problem with this is he clains it can be afforded by removing tax incentives to save in a private pension, which will just make less people invest and more people dependent on the state.
He also doesn't mention pension credits which top up the pensions of those with an insufficient NI record. That's wrong too in my opinion.
Young people are also far more likely to live in poverty than sn OAP, the problem has moved and so should any funding.
[Post edited 16 Sep 18:28]
I think the whole thing should be looked at, the holistic approach rather than saying one section needs help.
We need to ensure retirement is comfortable. At the same time we need to get families out of poverty but we can't just chuck money at the problems. There needs to be more training, we need to persuade people away from benefits and we need to ensure corporations pay a better wage when they re making billions in profits. I've said this before but we need a tiered minimum wage, small businesses get to pay a lower rate then add tiers as the company size increases up to Amazon who should be paying £18-19 per hour minimum in my book. Amazon make so much money that if something is delivered but left on your doorstep and you never see it (stolen before you get home maybe) they don't even argue, they just refund you and we pay how many millions out in universal credit to Amazon workers? Things have to change but until or unless we get a decent government things won't change, there will be excuses and hand wringing, we just can't afford it you see but then the government will send billions abroad for forwign aid, interest on borrowing and to help sovereign countries fight a war, out political classes will continue to live the high life, partly funded by their rich friends while we continue to "consent" to being ruled by this stupidity.
How much do we pay on the interest on our debt, it's over £111 BILLION this year and rising and borrowing increases, the debt rises and interest rates rise. We're not going to fix this unless we fix the economy and decrease welfare state dependency.
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Triple lock under threat on 08:14 - Sep 17 with 969 views
I think the whole thing should be looked at, the holistic approach rather than saying one section needs help.
We need to ensure retirement is comfortable. At the same time we need to get families out of poverty but we can't just chuck money at the problems. There needs to be more training, we need to persuade people away from benefits and we need to ensure corporations pay a better wage when they re making billions in profits. I've said this before but we need a tiered minimum wage, small businesses get to pay a lower rate then add tiers as the company size increases up to Amazon who should be paying £18-19 per hour minimum in my book. Amazon make so much money that if something is delivered but left on your doorstep and you never see it (stolen before you get home maybe) they don't even argue, they just refund you and we pay how many millions out in universal credit to Amazon workers? Things have to change but until or unless we get a decent government things won't change, there will be excuses and hand wringing, we just can't afford it you see but then the government will send billions abroad for forwign aid, interest on borrowing and to help sovereign countries fight a war, out political classes will continue to live the high life, partly funded by their rich friends while we continue to "consent" to being ruled by this stupidity.
How much do we pay on the interest on our debt, it's over £111 BILLION this year and rising and borrowing increases, the debt rises and interest rates rise. We're not going to fix this unless we fix the economy and decrease welfare state dependency.
Agree with every word.
Personally I'd toughen the language around "persuading" people off benefits. It shouldn't be a choice it should be an absolute necessity, and then with the exception of OAP's and care provision only enough to maintain a basic standard of living.
My direct and second hand experience of some peoples lifestyle on benefits would make peoples eyes water.
From a close relative who spent £10k on three foreign holidays and within days needed a Direct Housing Payment from the council becasue she couldn't pay her rent (not the first time) to a very close mate (45) who says he's retired becasue he lives on benefits due to his wifes ADHD and three kids with ASD (only one seems to need minimal extra help).
I could go on extensively.
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Triple lock under threat on 12:53 - Sep 17 with 899 views
Triple lock under threat on 08:14 - Sep 17 by Scotia
Agree with every word.
Personally I'd toughen the language around "persuading" people off benefits. It shouldn't be a choice it should be an absolute necessity, and then with the exception of OAP's and care provision only enough to maintain a basic standard of living.
My direct and second hand experience of some peoples lifestyle on benefits would make peoples eyes water.
From a close relative who spent £10k on three foreign holidays and within days needed a Direct Housing Payment from the council becasue she couldn't pay her rent (not the first time) to a very close mate (45) who says he's retired becasue he lives on benefits due to his wifes ADHD and three kids with ASD (only one seems to need minimal extra help).
I could go on extensively.
Oh I've seen things in work that would beg many questions! I've seen things I'm not allowed to tell about. All of them shocking involving people I know to be on benefits. They are a minority but most of them are young, less than 30. The welfare state has gone too far, it's meant to be a buffer not a lifestyle choice.
In our last home we had a neighbour who fought hard to get her son diagnosed with ADHD, she made claims about his behaviour that we'd never seen. She won, got benefits and went from full time work to part time.
I'm sure others have plenty of examples too.
1
Triple lock under threat on 15:10 - Sep 17 with 863 views
Oh I've seen things in work that would beg many questions! I've seen things I'm not allowed to tell about. All of them shocking involving people I know to be on benefits. They are a minority but most of them are young, less than 30. The welfare state has gone too far, it's meant to be a buffer not a lifestyle choice.
In our last home we had a neighbour who fought hard to get her son diagnosed with ADHD, she made claims about his behaviour that we'd never seen. She won, got benefits and went from full time work to part time.
I'm sure others have plenty of examples too.
Probably worth a thread of it's own.
But I don't understand how people can have up to £16k in the bank and still get some means tested benefits.
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Triple lock under threat on 15:49 - Sep 17 with 829 views
When we hear of young people strugging financially we of hear that they should not have a phone or Netfilx or buy coffee from a shop.
Did pensioners at the time think that the state pension was all they needed and didn't have to make provision?
I do find it interesting that Rupert Lowe is saying the lock has to go because young people are having to pay for it. Maybe its not such a left wing angle after all?
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Triple lock under threat on 16:12 - Sep 17 with 821 views
Triple lock under threat on 15:49 - Sep 17 by Gwyn737
Just playing Devil's advocate here...
When we hear of young people strugging financially we of hear that they should not have a phone or Netfilx or buy coffee from a shop.
Did pensioners at the time think that the state pension was all they needed and didn't have to make provision?
I do find it interesting that Rupert Lowe is saying the lock has to go because young people are having to pay for it. Maybe its not such a left wing angle after all?
My take on it. When I started work in the 60s yes we believed the state pension would suffice, this is what we were led to believe, pay your tax and national insurance and look forward to a happy retirement. But over the years advice was to pay into a private pension if a company/government was not going to be available. I made sacrifices and paid into private pensions, cleared my mortgage early and saved, I made sacrifices to do this. What pisses me off is others who didn't do this, spent everything they got and some on benifits now get government hand outs on top of their state pension, whilst I am taxed on private pensions and if I am not careful savings. A second point is why is there such a gap between what a pensioner is expected to live on and a working person on the minimum wage is expectedto live on . Yes I agree the triple lock should go but the but the state pension should be at a realistic level to start.
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Triple lock under threat on 16:21 - Sep 17 with 810 views
I think the whole thing should be looked at, the holistic approach rather than saying one section needs help.
We need to ensure retirement is comfortable. At the same time we need to get families out of poverty but we can't just chuck money at the problems. There needs to be more training, we need to persuade people away from benefits and we need to ensure corporations pay a better wage when they re making billions in profits. I've said this before but we need a tiered minimum wage, small businesses get to pay a lower rate then add tiers as the company size increases up to Amazon who should be paying £18-19 per hour minimum in my book. Amazon make so much money that if something is delivered but left on your doorstep and you never see it (stolen before you get home maybe) they don't even argue, they just refund you and we pay how many millions out in universal credit to Amazon workers? Things have to change but until or unless we get a decent government things won't change, there will be excuses and hand wringing, we just can't afford it you see but then the government will send billions abroad for forwign aid, interest on borrowing and to help sovereign countries fight a war, out political classes will continue to live the high life, partly funded by their rich friends while we continue to "consent" to being ruled by this stupidity.
How much do we pay on the interest on our debt, it's over £111 BILLION this year and rising and borrowing increases, the debt rises and interest rates rise. We're not going to fix this unless we fix the economy and decrease welfare state dependency.
I was out of work back about 6yrs ago I was between jobs, I'd had a date to start new job [one I'm doing now] but I had a start date, but they are usually a month maybe 2 months away its the way it is in my line of work, went into job centre sat down with an advisor tidy enough, but he threw all different questions at me about am I going to do anything in between i think I laughed iirc at the time, I never bothered with the claim in end, but I do wonder if those who have not worked or have hardly worked get the third degree [bit of an exaggeration I know] I wonder etc back about 6yrs ago
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Triple lock under threat on 16:23 - Sep 17 with 796 views
Triple lock under threat on 16:12 - Sep 17 by Whiterockin
My take on it. When I started work in the 60s yes we believed the state pension would suffice, this is what we were led to believe, pay your tax and national insurance and look forward to a happy retirement. But over the years advice was to pay into a private pension if a company/government was not going to be available. I made sacrifices and paid into private pensions, cleared my mortgage early and saved, I made sacrifices to do this. What pisses me off is others who didn't do this, spent everything they got and some on benifits now get government hand outs on top of their state pension, whilst I am taxed on private pensions and if I am not careful savings. A second point is why is there such a gap between what a pensioner is expected to live on and a working person on the minimum wage is expectedto live on . Yes I agree the triple lock should go but the but the state pension should be at a realistic level to start.
Couldn’t agree more.
As things stand it just doesn’t seem sustainable. I’m retirement planning without taking the state pension into account.
Maybe partly as we told now (correctly) that paying in isn’t a savings pot for you, you’re paying for those already retired.
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Triple lock under threat on 16:42 - Sep 17 with 789 views
Govt need to crack down on benefit fraud I remember reading about one Romanian family set up and they had defrauded £ 54 million ! The penalties need to be far more severe not a slap on the wrist and fiddles need to be paid back in full. People forget a lot of pensioners don't get to reach retirement or die soon after . That pension is not transferable like a private one and so the Govt reaps the assets , no one talks about that .
Triple lock under threat on 16:42 - Sep 17 by howenjack
Govt need to crack down on benefit fraud I remember reading about one Romanian family set up and they had defrauded £ 54 million ! The penalties need to be far more severe not a slap on the wrist and fiddles need to be paid back in full. People forget a lot of pensioners don't get to reach retirement or die soon after . That pension is not transferable like a private one and so the Govt reaps the assets , no one talks about that .
What they put down to fraud and staff error accounts for almost 10 billion of the 308 billion welfare bill.
They reckon that last year tax avoidance and evasion accounted for about 6.3 billion.
Thing is 16 billion would help a little bit but it's not the whole answer. Obviously people unnecessarily or fraudulently on benefits would be contributing taxes if they got a job as well as contributing to the local economy. There would be a lot more to do though
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Triple lock under threat on 18:28 - Sep 17 with 735 views
Triple lock under threat on 16:42 - Sep 17 by howenjack
Govt need to crack down on benefit fraud I remember reading about one Romanian family set up and they had defrauded £ 54 million ! The penalties need to be far more severe not a slap on the wrist and fiddles need to be paid back in full. People forget a lot of pensioners don't get to reach retirement or die soon after . That pension is not transferable like a private one and so the Govt reaps the assets , no one talks about that .
Triple lock under threat on 18:28 - Sep 17 by Gwyn737
That’s true but it’s more impactful overall that more and Moore pensioners are living longer and longer.
Yes, I've been telling my son to open a personal pension as soon as he can.
For myself I have one occupational pension already paying out, I'm in the pension scheme in my current job but I only have 5.5 years til it matures so it won't be worth that much, maybe 2k per year and then there's the state pension which should still be a thing in 7 years.
My wife also has an occupational pension. We should be ok in retirement even if the triple lock goes this year.
It's our son we are more worried about and are doing what we can to make things easier for him with regards to future costs, we'll sign the house over as soon as it's paid off and we'll help him with pension contributions if need be, getting off to a good start is important as we always tell him.
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Triple lock under threat on 19:56 - Sep 17 with 702 views
Yes, I've been telling my son to open a personal pension as soon as he can.
For myself I have one occupational pension already paying out, I'm in the pension scheme in my current job but I only have 5.5 years til it matures so it won't be worth that much, maybe 2k per year and then there's the state pension which should still be a thing in 7 years.
My wife also has an occupational pension. We should be ok in retirement even if the triple lock goes this year.
It's our son we are more worried about and are doing what we can to make things easier for him with regards to future costs, we'll sign the house over as soon as it's paid off and we'll help him with pension contributions if need be, getting off to a good start is important as we always tell him.
It’s got to be done Cat.
I’ve been in my scheme for 26 years so it should be decent if I can get to 60.
Downside is I’m trapped when I’d love to go and do something else.
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Triple lock under threat on 20:02 - Sep 17 with 701 views
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